Is Chord Energy (CHRD) a Smart Long-Term Buy?

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter of the year, the portfolio fell –9.48% (net), below the R2000V’s decline of –4.6% and the R2500V’s decline of –4.5%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Bernzott Capital Advisors US Small Cap Value Fund mentioned Chord Energy Corporation (NASDAQ:CHRD) and explained its insights for the company. Founded in 2022, Chord Energy Corporation (NASDAQ:CHRD) is a Houston, Texas-based independent exploration and production company with a $6.2 billion market capitalization. Chord Energy Corporation (NASDAQ:CHRD) delivered a 19.95% return since the beginning of the year, while its 12-month returns are up by 14.35%. The stock closed at $151.13 per share on November 23, 2022.

Here is what Bernzott Capital Advisors US Small Cap Value Fund has to say about Chord Energy Corporation (NASDAQ:CHRD) in its Q3 2022 investor letter:

“Chord Energy (CHRD): Formed through the 2022 merger of Whiting Petroleum and Oasis Petroleum, the company possesses one of the largest acreages within the Williston Basin. The company’s plan to return 75% of FCF to shareholders in the form of dividends and buybacks is amongst the highest of its peer group. Synergies associated with the merger should drive further efficiencies benefitting the bottom line. The stock currently yields 3.4%.”

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Our calculations show that Chord Energy Corporation (NASDAQ:CHRD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Chord Energy Corporation (NASDAQ:CHRD) was in 41 hedge fund portfolios at the end of the second quarter of 2022, compared to 26 funds in the previous quarter. Chord Energy Corporation (NASDAQ:CHRD) delivered a 2.99% return in the past 3 months.  You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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