Gibraltar Capital Management Inc. Has $11.07 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Gibraltar Capital Management Inc. cut its position in Coterra Energy Inc. (NYSE:CTRA) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,482 shares of the company’s stock after selling 35,218 shares during the quarter. Coterra Energy comprises 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 $11,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTRA. International Assets Investment Management LLC bought a new stake in Coterra Energy during the third quarter valued at $1,986,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Coterra Energy by 19.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,640 shares of the company’s stock valued at $1,093,000 after acquiring an additional 7,582 shares during the last quarter. Inscription Capital LLC grew its holdings in shares of Coterra Energy by 48.2% during the third quarter. Inscription Capital LLC now owns 14,255 shares of the company’s stock worth $341,000 after purchasing an additional 4,633 shares in the last quarter. abrdn plc increased its position in shares of Coterra Energy by 24.7% in the third quarter. abrdn plc now owns 182,960 shares of the company’s stock worth $4,379,000 after purchasing an additional 36,239 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in Coterra Energy by 13.1% in the third quarter. Nicholas Hoffman & Company LLC. now owns 34,703 shares of the company’s stock valued at $831,000 after purchasing an additional 4,021 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. Barclays boosted their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Truist Financial increased their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley raised their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Trading Down 2.1 %

CTRA opened at $27.38 on Wednesday. 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. The stock has a market cap of $20.17 billion, a PE ratio of 16.49, a PEG ratio of 0.59 and a beta of 0.26. The business has a 50 day moving average of $27.29 and a 200-day moving average of $25.45.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.21%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s payout ratio is 50.60%.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.