The decrease in short interest for Coterra Energy indicates that investors may be less bearish on the stock, potentially leading to a positive short-term impact on its price. Since short interest is a contrarian indicator, a decrease suggests that fewer investors are betting on the stock's decline, which could lead to an increase in price if the market sentiment is indeed turning more positive. Additionally, being below the peer group average for short interest could be perceived as a sign of strength relative to its competitors.