Gibraltar Capital Management Inc. Lowers Stake in Coterra Energy Inc. (NYSE:CTRA)

Gibraltar Capital Management Inc. lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 446,398 shares of the company’s stock after selling 23,689 shares during the quarter. Coterra Energy accounts for about 4.9% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 4th biggest position. Gibraltar Capital Management Inc. owned about 0.06% of Coterra Energy worth $11,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after buying an additional 235,636 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after purchasing an additional 544,768 shares in the last quarter. Invesco Ltd. lifted its position in shares of Coterra Energy by 1.5% during the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after purchasing an additional 161,776 shares in the last quarter. Northern Trust Corp lifted its position in shares of Coterra Energy by 2.3% during the third quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock worth $245,725,000 after purchasing an additional 201,520 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Coterra Energy by 5.9% during the third quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after purchasing an additional 466,511 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 3.6 %

Coterra Energy stock traded down $1.03 during mid-day trading on Tuesday, reaching $27.36. The company’s stock had a trading volume of 6,969,244 shares, compared to its average volume of 6,753,127. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 12.79 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The business’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $26.41. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89.

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

Coterra Energy Increases Dividend

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

Insider Transactions at Coterra Energy

In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTRA. Susquehanna upped their target price on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Piper Sandler increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. Stephens restated an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Truist Financial cut their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Company 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.