Clearline Capital LP Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Clearline Capital LP purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 75,970 shares of the company’s stock, valued at approximately $1,819,000.

Several other institutional investors also recently modified their holdings of CTRA. Fortitude Family Office LLC lifted its holdings in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC boosted its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Coterra Energy during the 3rd quarter valued at approximately $57,000. Tobam bought a new position in Coterra Energy during the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the period. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Stephens increased their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank dropped their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays raised their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Susquehanna boosted their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Two 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Price Performance

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

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion for 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%. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. Research analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.14%. Coterra Energy’s payout ratio is currently 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.