Northern Trust Corp Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

Northern Trust Corp increased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,777,764 shares of the company's stock after purchasing an additional 571,193 shares during the quarter. Northern Trust Corp owned 1.19% of Coterra Energy worth $224,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after acquiring an additional 96,059 shares during the period. Victory Capital Management Inc. raised its holdings in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Susquehanna cut their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Raymond James reduced their price objective on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.85.

Coterra Energy Price Performance

NYSE:CTRA traded down $2.15 during trading hours on Tuesday, hitting $23.13. 20,596,845 shares of the company's stock traded hands, compared to its average volume of 6,265,300. 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 firm has a market cap of $17.67 billion, a P/E ratio of 13.91, a P/E/G ratio of 0.59 and a beta of 0.33. The business's fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $26.41.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.81%. Coterra Energy's dividend payout ratio is presently 58.28%.

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.