Northwestern Mutual Wealth Management Co. Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

Northwestern Mutual Wealth Management Co. lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,831 shares of the company’s stock after selling 794 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Coterra Energy were worth $449,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter worth about $44,000. Harbor Investment Advisory LLC raised its position in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy in the 1st quarter valued at about $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA opened at $24.43 on Wednesday. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.37 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The business’s fifty day simple moving average is $23.86 and its 200-day simple moving average is $26.17.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.74 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTRA shares. Barclays reduced their price objective on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wolfe Research assumed coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Susquehanna lowered their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley cut their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.24.

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.