Connor Clark & Lunn Investment Management Ltd. Buys 31,136 Shares of Coterra Energy Inc. $CTRA

Connor Clark & Lunn Investment Management Ltd. increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 91.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,308 shares of the company’s stock after acquiring an additional 31,136 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Coterra Energy were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Coterra Energy in the first quarter worth $29,000. Bogart Wealth LLC purchased a new position in shares of Coterra Energy in the second quarter valued at about $26,000. REAP Financial Group LLC increased its position in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares during the period. TCTC Holdings LLC raised its stake in shares of Coterra Energy by 51.0% during the first quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock valued at $51,000 after acquiring an additional 598 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Coterra Energy by 69.2% during the first quarter. Quarry LP now owns 2,147 shares of the company’s stock worth $62,000 after purchasing an additional 878 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial reduced their price target on Coterra Energy from $34.00 to $28.00 in a report on Tuesday, October 28th. Wolfe Research reduced their target price on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Barclays decreased their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Seventeen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Coterra Energy Price Performance

Shares of CTRA opened at $26.34 on Monday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. The firm’s 50-day simple moving average is $24.12 and its two-hundred day simple moving average is $24.48. The stock has a market cap of $20.06 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. Analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Coterra Energy Profile

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.