Gibraltar Capital Management Inc. Has $11.39 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Gibraltar Capital Management Inc. reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 446,398 shares of the company’s stock after selling 23,689 shares during the quarter. Coterra Energy comprises approximately 4.9% of Gibraltar Capital Management Inc.’s holdings, making the stock its 4th largest holding. Gibraltar Capital Management Inc.’s holdings in Coterra Energy were worth $11,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SouthState Corp raised its holdings in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Coterra Energy in the fourth quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new stake in Coterra Energy in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC increased its stake in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares during the period. Finally, Headlands Technologies LLC increased its stake in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after purchasing an additional 1,392 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Down 3.6 %

NYSE CTRA traded down $1.03 during trading on Tuesday, hitting $27.36. The company’s stock had a trading volume of 6,969,244 shares, compared to its average volume of 6,753,127. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company has a market cap of $20.57 billion, a PE ratio of 12.79 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The business’s 50 day simple moving average is $27.17 and its 200-day simple moving average is $26.41.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.82 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.07%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CTRA shares. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Friday, January 5th. Stephens reiterated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Wednesday, April 3rd. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Susquehanna raised their price objective on Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Insider Transactions at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.