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Here’s What Makes Civitas Resources (CIVI) a Wise Investment Choice

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Diamond Hill Capital, an investment management firm, published its “Diamond Hill Small Cap Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline, and client alignment. Amid a rocky market environment, the portfolio’s negative returns still outpaced the Russell 2000 Index by a healthy margin in Q1.  Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill Small Cap Fund mentioned Civitas Resources, Inc. (NYSE:CIVI) and explained its insights for the company. Founded in 1999, Civitas Resources, Inc. (NYSE:CIVI) is a Denver, Colorado-based natural gas liquids company with a $4.0 billion market capitalization. Civitas Resources, Inc. (NYSE:CIVI) delivered a -2.19% return since the beginning of the year, while its 12-month returns are up by 5.23%. The stock closed at $47.90 per share on July 12, 2022.

Here is what Diamond Hill Small Cap Fund has to say about Civitas Resources, Inc. (NYSE:CIVI) in its Q1 2022 investor letter:

"Other top contributors included oil and gas exploration and production company Civitas Resources (NYSE:CIVI). Its shares rise as commodities prices in general spiked on supply concerns related to Russia’s invasion of Ukraine."

Pixabay/Public Domain

Our calculations show that Civitas Resources, Inc. (NYSE:CIVI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Civitas Resources, Inc. (NYSE:CIVI) was in 26 hedge fund portfolios at the end of the first quarter of 2022, compared to 26 funds in the previous quarter. Civitas Resources, Inc. (NYSE:CIVI) delivered a -23.67% return in the past 3 months.

In May 2022, we published an article that includes Civitas Resources, Inc. (NYSE:CIVI) in 9 Dividend Stock Picks of David Einhorn's Greenlight Capital. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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