MBB Public Markets I LLC Sells 1,002,357 Shares of Coterra Energy Inc. $CTRA

Key Points

• MBB Public Markets I LLC has reduced its holdings in Coterra Energy by 49.0% during the first quarter, now owning 1,042,593 shares which make up approximately 3.3% of its portfolio.
• Coterra Energy reported a quarterly earnings per share (EPS) of $0.48, missing estimates by $0.02, while revenue increased 54.6% year-over-year to $1.97 billion.
• The company has announced a quarterly dividend of $0.22 per share, equating to an annualized yield of 3.7% and a payout ratio of 42.11%.

MBB Public Markets I LLC lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 49.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,593 shares of the company's stock after selling 1,002,357 shares during the period. Coterra Energy accounts for 3.3% of MBB Public Markets I LLC's investment portfolio, making the stock its 10th largest holding. MBB Public Markets I LLC owned 0.14% of Coterra Energy worth $30,131,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Donald L. Hagan LLC grew its holdings in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after buying an additional 401 shares in the last quarter. Investors Research Corp grew its holdings in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares in the last quarter. Saxon Interests Inc. grew its holdings in shares of Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after buying an additional 451 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC grew its holdings in shares of Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

CTRA has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.39.

Coterra Energy Trading Down 0.0%

CTRA stock traded down $0.01 during midday trading on Friday, reaching $24.36. 4,146,724 shares of the company's stock traded hands, compared to its average volume of 5,107,425. The company has a market capitalization of $18.59 billion, a P/E ratio of 11.66, a PEG ratio of 0.34 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $29.95. The business has a 50-day moving average price of $24.14 and a two-hundred day moving average price of $25.31.

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

Coterra Energy Announces Dividend

The firm 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%.

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.