Nuveen LLC Acquires New Stake in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Nuveen LLC has acquired a new stake in Coterra Energy Inc., purchasing 2,220,507 shares valued at approximately $64.17 million, bringing its ownership to 0.29% of the company.
• Multiple analysts have issued ratings for Coterra Energy, with a consensus rating of "Moderate Buy" and a target price of $33.16.
• Coterra Energy reported $0.48 EPS for the last quarter, missing estimates, but had a revenue of $1.97 billion, surpassing expectations and reflecting a 54.6% year-over-year increase.

Nuveen LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,220,507 shares of the company's stock, valued at approximately $64,173,000. Nuveen LLC owned 0.29% of Coterra Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its stake in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. raised its position 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 purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy during the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Coterra Energy during the 1st quarter worth approximately $34,000. Finally, Investors Research Corp grew its holdings in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares during the period. Institutional investors own 87.92% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Susquehanna lowered their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Barclays upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company lowered their price target on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.16.

Coterra Energy Trading Up 1.0%

Shares of CTRA stock opened at $24.23 on Thursday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The firm has a market capitalization of $18.49 billion, a PE ratio of 11.59, a PEG ratio of 0.32 and a beta of 0.33. The stock has a fifty day simple moving average of $25.01 and a two-hundred day simple moving average of $25.92.

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

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Coterra Energy Company 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.

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