5 Best Affordable Stocks Under $30

3. Coterra Energy Inc. (NYSE:CTRA)

Price as of December 01: $27.81

Forward P/E ratio as of December 01: 6.29

Number of Hedge Fund Holders: 39

Coterra Energy Inc. (NYSE:CTRA)  is an independent oil and gas company based in the United States that specializes in developing, exploring, and producing oil, natural gas, and natural gas liquids. The Permian Basin, Marcellus Shale, and Anadarko Basin are all areas where the company operates.

On October 25, 2022, Derrick Whitfield, an analyst at Stifel, resumed coverage of Coterra Energy Inc. (NYSE:CTRA) with a price target of $40. The analyst currently has a Buy rating on the stock and, in a research note, stated that the company offers an attractive mix of value and quality.

As per Insider Monkey’s database, 39 hedge funds owned stakes in Coterra Energy Inc. (NYSE:CTRA) at the end of the third quarter. Diamond Hill Capital remained the leading stakeholder of the company at the end of Q3 2022.

Here is what Palm Valley Capital had to say about Coterra Energy Inc. (NYSE:CTRA) in its second-quarter 2022 investor letter:

We sold two Fund positions during the quarter which includes Coterra Energy (NYSE:CTRA). As a result of surging oil and natural gas prices, Coterra reached our valuation, and we exited the position in April.