Clearline Capital LP Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Clearline Capital LP bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, Holdings Channel.com reports. The fund bought 75,970 shares of the company’s stock, valued at approximately $1,819,000.

Several other institutional investors have also recently made changes to their positions in CTRA. B. Riley Wealth Advisors Inc. increased its holdings in Coterra Energy by 8.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock worth $431,000 after acquiring an additional 1,215 shares during the period. Cetera Investment Advisers raised its holdings in shares of Coterra Energy by 283.4% during the 1st quarter. Cetera Investment Advisers now owns 209,095 shares of the company’s stock valued at $5,830,000 after buying an additional 154,551 shares in the last quarter. Cetera Advisors LLC lifted its position in Coterra Energy by 88.0% in the 1st quarter. Cetera Advisors LLC now owns 58,676 shares of the company’s stock worth $1,636,000 after buying an additional 27,463 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Coterra Energy by 61.3% during the second quarter. GAMMA Investing LLC now owns 11,041 shares of the company’s stock valued at $294,000 after acquiring an additional 4,195 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTRA shares. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial raised their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Up 0.1 %

CTRA opened at $26.72 on Monday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $24.71 and a two-hundred day simple moving average of $25.37. The company has a market capitalization of $19.68 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.