5 Stocks That Have Grabbed Stanley Druckenmiller’s Attention in 2022

2. Coterra Energy Inc. (NYSE:CTRA)

Value of Duquesne Capital’s 13F Position: $47.9 million

Number of Hedge Fund Shareholders (as of March 31): 40

Coterra Energy Inc. (NYSE:CTRA), shares of which have been red-hot this year, was also added to Druckenmiller’s growing stable of energy holdings during Q1. The billionaire money manager’s fund bought 1.78 million shares of the stock during the quarter, which ranked as its 11^th-largest long position on March 31.

Coterra Energy Inc. (NYSE:CTRA) shares are still up by 46% this year despite sagging by 20% over the past week or so as natural gas prices have tumbled from highs not seen since the financial crisis. Nonetheless, natural gas prices are still more than twice as high as they were at the start of the year, which is a tremendous boon for Coterra, as 87% of the company’s production is either natural gas or natural gas liquids.

Like Pioneer, Coterra Energy Inc. (NYSE:CTRA) also returned a significant amount of cash to shareholders following its Q1 results, over $660 million in total. The company also raised its full-year free cash flow guidance by 50% to $4.5 billion, so shareholders like Druckenmiller can expect even greater payouts in the quarters to come.