3 Best Energy Stocks to Buy Now According to Billionaire Leon Cooperman

2. Coterra Energy Inc. (NYSE:CTRA)

Omega Advisors’ Stake Value: $60,800,000

Percentage of Omega Advisors’ 13F Portfolio: 3.1%

Number of Hedge Fund Holders: 39

Coterra Energy Inc. (NYSE:CTRA) is an independent oil and gas company. It engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the US.

Wells Fargo analyst Nitin Kumar holds an Overweight rating on Coterra Energy Inc. (NYSE:CTRA) shares as of this July. The analyst has also raised the price target on Coterra Energy Inc. (NYSE:CTRA) shares to $46.

In the first quarter of 2022, 39 hedge funds were long Coterra Energy Inc. (NYSE:CTRA). Their total stake value was $551.5 million. In the previous quarter, 37 hedge funds were long the stock, with a total stake value of $499.9 million.

Diamond Hill Capital, an investment management firm, mentioned Coterra Energy Inc. (NYSE:CTRA) in its first quarter of 2022 investor letter. Here’s what they said:

“Amid a rocky market environment, our portfolio’s negative returns still outpaced the Russell 2000 Index by a healthy margin in Q1. Relative performance was aided by strength among our consumer staples holdings — in aggregate, their positive returns outpaced the market. We were further aided by our above-benchmark exposure. We exited Coterra Energy (NYSE:CTRA), taking advantage of higher share prices in response to the run-up in commodities to reallocate to other opportunities.”