Is it Still Fine to Invest in Coterra Energy (CTRA)?

Palm Valley Capital Management, an investment management firm, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Palm Valley Capital Fund returned 3.86% compared to a 9.19% rise for the S&P SmallCap 600 Index and an 8.05% return for the Morningstar Small Cap Index. A large cash position led the fund to underperform its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In its Q3 2022 investor letter, Palm Valley Capital Management 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 premier, diversified energy company with a $20.2 billion market capitalization. Coterra Energy Inc. (NYSE:CTRA) delivered a 4.27% return since the beginning of the year, while its 12-month returns are up by 31.18%. The stock closed at $25.62 per share on January 20, 2023.

Here is what Palm Valley Capital Management has to say about Coterra Energy Inc. (NYSE:CTRA) in its Q3 2022 investor letter:

“For the full calendar year, the Fund’s top performers includes Coterra Energy Inc. (NYSE:CTRA). Coterra Energy Inc. (NYSE:CTRA)’s stock rose sharply along with energy prices at the beginning of 2022.”

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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 second quarter of 2022, compared to 40 funds in the previous quarter. Coterra Energy Inc. (NYSE:CTRA) delivered a -15.39% return in the past 3 months.

In December 2022, we published an article that includes Coterra Energy Inc. (NYSE:CTRA) in 12 Oil Stocks With Biggest Upside. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q4 2022 page.

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