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Billionaire Ken Griffin’s Citadel Advisors Boosts Stake in Rex Energy (REXX)

Ken Griffin’s Citadel Advisors increased its stake in Rex Energy Corporation (NASDAQ:REXX) to approximately 2.81 million shares from 1.62million shares held previously, as revealed in a recent filing with the SEC. Currently the fund’s position amasses 5.2% of the company’s common stock.

 CITADEL INVESTMENT GROUP

Rex Energy Corporation (NASDAQ:REXX) operates independently engaged in exploration, productions and development of oil, natural gas and natural gas liquids, focused on the proved reserves within the Appalachian and Illinois regions. In 2013, Rex Energy Corporation generated operating revenues of $237.9 million, an increase of 61% over 2012. For the full year 2013, the company recorded non-GAAP earnings of $0.45 per share as stated in the company’s press release. For the first quarter of 2014, the oil company expects production of 115.0 – 118.0 MMcfe/d compared to a production of 110.4 MMcfe/d in the last quarter of 2013.

Last month, the company announced to increase its borrowing base by 15% under the company’s senior secured credit facility to $375 million. An expanded borrowing base along with the ample liquidity of the company would help its ability to develop its assets.

Other funds invested in Rex Energy are Vollero Beach Capital Partners, led by Robert Vollero and Gentry T. Beach, which holds 487,600 shares, followed by Gregory Fraser, Rudolph Kluiber and Timothy Krochuk’s Grt Capital Partners, which owns approximately 439,200 shares.

Citadel Advisors is headquartered in Chicago, Illinois. According to its website, Citadel Advisors deploy a gamut of fundamental and advanced quantitative investment strategies coupled with a proven technology platform to get desired returns. Founder Kenneth Griffin is the Chief Executive Officer of Citadel. Self-made billionaire, Mr. Griffin is member of several renowned organizations, including the World Economic Forum, G100 and the Economic Club of Chicago. He earned his bachelor’s degree from the Harvard University.

A couple of days ago April, Citadel Investment Group reported boosting its stake in William Lyon Homes (NYSE:WLHto 1.4 million shares from 905,500 shares held earlier. In March, the fund raised its holding in Arch Coal Inc (NYSE:ACI) to 11.6 million shares worth $47.6 million. It previously held 160,100 shares and another 875,000 shares under options of Arch Coal.

The $76.8 billion equity portfolio of the fund is mainly invested in technology and services sectors. At the end of 2013, Citadel Advisors had a considerable position, worth $894.1 million (1.16% of the portfolio) represented by 1.6 million shares in Apple Inc (NASDAQ:AAPL). Another major holding of the fund was Google Inc (NASDAQ:GOOG), which contained 710.6 million shares worth $796.4 million. Moreover, Citadel Advisors held approximately 3.17 million shares in Ralph Lauren Corporation (NYSE:RL).

Disclosure:none

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