Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Coterra Energy by 154.5% during the first quarter, owning 57,203 shares valued at $1,653,000 by the end of the quarter.
• Coterra Energy recently declared a quarterly dividend of $0.22 per share, which provides an annual yield of 3.6% based on a payout ratio of 42.11%.
• The company reported a revenue of $1.97 billion for the last quarter, surpassing analysts' expectations, but its EPS of $0.48 missed the consensus estimate by $0.02.

Northwestern Mutual Wealth Management Co. grew its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 154.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,203 shares of the company's stock after buying an additional 34,728 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Coterra Energy were worth $1,653,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Allstate Corp increased its position in shares of Coterra Energy by 81.9% in the first quarter. Allstate Corp now owns 38,957 shares of the company's stock valued at $1,126,000 after buying an additional 17,538 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Coterra Energy by 8.8% in the first quarter. Kestra Advisory Services LLC now owns 374,351 shares of the company's stock worth $10,819,000 after acquiring an additional 30,374 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Coterra Energy by 19.0% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 514,385 shares of the company's stock worth $14,866,000 after acquiring an additional 81,989 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Coterra Energy by 18.3% in the first quarter. Norinchukin Bank The now owns 47,097 shares of the company's stock worth $1,361,000 after acquiring an additional 7,294 shares during the last quarter. Finally, CW Advisors LLC raised its holdings in shares of Coterra Energy by 84.8% in the first quarter. CW Advisors LLC now owns 77,748 shares of the company's stock worth $2,255,000 after acquiring an additional 35,672 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $24.44 on Friday. The company has a market cap of $18.65 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.33 and a beta of 0.33. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The business has a fifty day simple moving average of $24.43 and a 200-day simple moving average of $25.56.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is 42.11%.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. UBS Group cut their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Mizuho lowered their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.61.

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.

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