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

Gibraltar Capital Management Inc. lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.5% in the fourth quarter, HoldingsChannel reports. The firm owned 433,482 shares of the company’s stock after selling 35,218 shares during the period. Coterra Energy makes up 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 $11,071,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. City State Bank purchased a new position in shares of Coterra Energy in the 4th quarter worth $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of Coterra Energy by 33.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after purchasing an additional 429 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 2.1 %

CTRA opened at $27.38 on Wednesday. The company has a market capitalization of $20.17 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm has a 50-day simple moving average of $27.29 and a two-hundred day simple moving average of $25.45. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.21%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CTRA shares. Wells Fargo & Company upped 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. Piper Sandler upped their price objective on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Barclays upped their price target on Coterra Energy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.42.

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.