Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,803 shares of the company’s stock after selling 62,679 shares during the period. Coterra Energy accounts for 2.3% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Gibraltar Capital Management Inc.’s holdings in Coterra Energy were worth $10,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raleigh Capital Management Inc. increased its stake in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the 1st quarter worth about $34,000. Investors Research Corp lifted its holdings in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after purchasing an additional 408 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Coterra Energy in the first quarter valued at approximately $46,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Coterra Energy during the 1st quarter worth $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CTRA shares. Morgan Stanley set a $28.00 price objective on Coterra Energy in a research note on Tuesday, April 15th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Piper Sandler decreased their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Susquehanna decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Coterra Energy Trading Up 0.6%

CTRA opened at $25.19 on Monday. The firm’s fifty day simple moving average is $25.20 and its 200 day simple moving average is $26.44. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock has a market capitalization of $19.22 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.34 and a beta of 0.35. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.51 EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.49%. Coterra Energy’s payout ratio is presently 51.16%.

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.