In this article, we will be taking a look at some of the best stocks in billionaire Chris Rokos’s Q2 portfolio. To read our analysis of Chris Rokos’s profile and investment strategy, and also the risk/reward and methodology of this list, you can go to the 10 Best Stocks to Buy Now According to Billionaire Chris Rokos.
05. Southwestern Energy Company (NYSE:SWN)
Rokos Capital Management’s Stake Value: $47.739 million
Rokos Capital Management’s 13F Portfolio: 1.39%
Number of Hedge Fund Holders: 47
The Southwestern Energy Company (NYSE:SWN) was established in 1929 and has its corporate headquarters in Spring, Texas. It is an independent energy company that operates in the United States and is involved in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs).
For Q2, a total of 47 hedge funds are bullish on Southwestern Energy Company (NYSE:SWN) as compared to 35 in the previous quarter.
Rokos Capital Management initiated a stake in Southwestern Energy Company (NYSE:SWN) during the most recent quarter by acquiring 7.3 million of its shares, valued at $47.7 million. In its Q1 2022 investor letter, Greenlight Capital mentioned Southwestern Energy Company (NYSE:SWN) and explained its insights for the company. Here is what the fund said:
“SWN is the second largest producer of natural gas in the U.S. The company is well-situated to satisfy growing domestic and export demand. Over the short, medium and long term, Europe now intends to reduce its reliance on Russian energy and increase its use of U.S. LNG. Based on its 2021 year-end reserves – which assumed a $3.60/MMBtu long-term natural gas price – SWN has a PV-104 value of $13.83 per share. By the end of the first quarter, the U.S. natural gas 5-year forward curve averaged $4.28/MMBtu, while international seaborne LNG was close to $20/MMBtu. Over the intermediate term, with the benefit of substantial global investment in infrastructure, we expect prices for U.S. and international natural gas to converge. We acquired our shares at an average price of $6.58. SWN shares ended the quarter at $7.17.”