Should You Now Consider Disposing Your Coterra (CTRA) Shares?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Small Cap Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline, and client alignment. Amid a rocky market environment, the portfolio’s negative returns still outpaced the Russell 2000 Index by a healthy margin in Q1.  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 Small Cap 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 38.63% return since the beginning of the year, while its 12-month returns are up by 48.90%. The stock closed at $26.34 per share on July 12, 2022.

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

“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.”

Photo by Jason Blackeye on Unsplash

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 -7.16% return in the past 3 months.

In January 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.