Billionaire Leon Cooperman Purchases More Shares of Resource Partners, L.P. (ARP)

Leon Cooperman‘s  Omega Advisors upped its stake in Atlas Resource Partners, L.P. (NYSE:ARP). A recent Form 4 filing shows that the fund now owns 6,92 million shares of the company, after purchasing nearly 100,000 shares at a price of $20.16 apiece. Earlier this year the fund purchased some 60,000 share for a lump sum of $1.25 million.

OMEGA ADVISORS

Based in Pittsburgh, Pennsylvania, Atlas Resource Partners, L.P. (NYSE:ARP) is an independent gas exploration and production company operating in basins across the United States. The company is based onshore, extracting natural gas, which represents 99.00% of its proved reserves, mainly from its Appalachia and Michigan fields. Having around 70.00% proved developed lands, the company is still to put under development a significant portion of the lands it owns. Atlas Resource is also a sponsor of tax-advantaged direct investment natural gas and oil partnerships. In 2013 the company generated net loss of almost $95.00 million, which amounts to $-2.03 per share, compared to the 2012 result of $-1.59. Currently trading at $20.xx per share, Atlas Resource is expected to produce earnings per share of $0.53 this year and $0.57 in 2015. On average, analysts strongly suggest that investors buy the company’s stock.

Lead by Bernard Selz, Selz Capital owns 70,000 shares of Atlas Resource Partners, L.P. (NYSE:ARP, the position worth $1.44 million. Another fund holding the company’s stock is Ken Griffin‘s Citadel Investment Group, which owns some 30,000, with an aggregate value of more than $600,000.

Investments in the Financial and Basic Materials Sectors constitute nearly 60.00% of the $7.00 billion portfolio that Omega Advisors’ Leon Cooperman manages. With a position of 40.56 million shares worth more than $435.00 million, Sprint Corporation (NYSE:S) represents the largest share in the portfolio. Recently, the fund bought a total of 632,000 class A shares of PennyMac Financial Services Inc (NYSE:PFSI) for $15.99 per share.

Disclosure: none

Recommended Reading:

Billionaire Leon Cooperman’s Largest High Dividend Picks

Soroban Capital Partners Discloses New Position in Sinclair Broadcast Group Inc (SBGI)

Leon Cooperman is Bullish on London-listed Monitise Plc (MONI) and Raises Stake to 10.9%

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!