Here’s What Makes Coterra Energy (CTRA) a Great Investment

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Long-Short Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. The Diamond Hill Long-Short Fund’s returns were just about flat—slightly positive— in Q1. After a strong rebound in 2021, the fund expects the global GDP growth to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill Long-Short Fund mentioned Coterra Energy Inc. (NYSE:CTRA) and explained its insights for the company. Founded in 1989, Coterra Energy Inc. (NYSE:CTRA) is a Houston, Texas-based energy company with a $21.2 billion market capitalization. Coterra Energy Inc. (NYSE:CTRA) delivered a 38.47% return since the beginning of the year, while its 12-month returns are up by 62.81%. The stock closed at $26.31 per share on July 14, 2022.

Here is what Diamond Hill Long-Short Fund has to say about Coterra Energy Inc. (NYSE:CTRA) in its Q1 2022 investor letter:

“Other top contributors in Q1 included energy exploration and production company Coterra Energy (NYSE:CTRA). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”

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Our calculations show that Coterra Energy Inc. (NYSE:CTRA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Coterra Energy Inc. (NYSE:CTRA) was in 39 hedge fund portfolios at the end of the first quarter of 2022, compared to 37 funds in the previous quarter. Coterra Energy Inc. (NYSE:CTRA) delivered a -10.57% return in the past 3 months.

In July 2022, we also shared another hedge fund’s views on Coterra Energy Inc. (NYSE:CTRA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.