In this article, we will be taking a look at the top 5 stock picks of Zweig-DiMenna Associates. To read our detailed analysis, you can go directly to see Top 10 Stock Picks of Zweig-DiMenna Associates.
5. Southwestern Energy Company (NYSE:SWN)
Zweig-DiMenna Associates’ Stake Value: $14.261 million
Number of Hedge Fund Holders: 35
With a 21% increase in Zweig-DiMenna Associates’ portfolio, Southwestern Energy Company (NYSE:SWN) is one of the top 10 stock picks of Zweig-DiMenna Associates. Southwestern Energy Company (NYSE:SWN) is a natural gas exploration and production company, and has more than 21 trillion cubic feet of natural gas reserves. The company recorded nearly $6.7 billion in revenue in 2021.
Greenlight Capital published its Q1 2022 investor letter, where it mentioned Southwestern Energy Company (NYSE:SWN). Here is what is 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.”