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

Gibraltar Capital Management Inc. cut its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 370,803 shares of the company's stock after selling 62,679 shares during the quarter. Coterra Energy accounts for 2.3% of Gibraltar Capital Management Inc.'s portfolio, making the stock its 9th largest position. Gibraltar Capital Management Inc.'s holdings in Coterra Energy were worth $10,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. Raleigh Capital Management Inc. boosted its stake in Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Coterra Energy in the 1st quarter valued at about $34,000. Investors Research Corp lifted its position in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in Coterra Energy in the 4th quarter valued at about $46,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Coterra Energy in the 1st quarter valued at about $46,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded down $0.04 on Thursday, hitting $25.11. 5,184,656 shares of the company were exchanged, compared to its average volume of 6,528,077. The company's 50 day moving average price is $25.19 and its two-hundred day moving average price is $26.43. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.35 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The business's revenue was up 32.9% compared to the same quarter last year. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.51%. Coterra Energy's payout ratio is 51.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTRA shares. Bank of America lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Susquehanna dropped 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. Scotiabank decreased their target price on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Finally, Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.10.

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.