Billionaire Rob Citrone’s Top 5 Stock Picks

3. Denbury Inc. (NYSE:DEN)

Discovery Capital Management’s stake value: $117 million

Percentage of portfolio: 10.8%

Number of hedge fund holders: 29

Discovery Capital Management has been holding a stake in Denbury Inc. (NYSE:DEN) since the beginning of 2021. With a forward price-to-earnings ratio of 9x, the company’s shares are still trading at attractive valuations. Denbury is an energy company focusing on oil production from mature fields like the Rocky Mountain and Gulf Coast regions. The company generated earnings per share of $1.69 in the first quarter and anticipates healthy profits for the following quarters. 

As of the end of the March quarter, Denbury was in 29 hedge funds’ portfolios compared to 32 positions in the previous quarter. Silver Point Capital and Hein Park Capital were the leading stakeholders in the company.