Charles Davidson, Wexford Capital Sell More Shares of Diamondback Energy Inc (FANG)

In a new filing, Charles Davidson‘s Wexford Capital reported further reducing its position in Diamondback Energy Inc (NASDAQ:FANG). Wexford sold another some 334,000 shares of Diamondback, at an average price of $64.96 per unit, which raise the amount of total proceeds to $21.70 million. Following three transactions, Wexford cut its stake to around 9.99 million shares.

Diamondback Energy

Only a couple of days earlier, Mr. Davidson’s disclosed selling another 33,700 shares of Diamondback Energy. The securities have been disposed for a total consideration worth $2.17 million, the price per unit being slightly lower than in the latest deals. In fact, the fund has been consistently reducing its exposure to the company, holding over 16.41 million shares at the end of 2012.

However, even following the sale of shares, Wexford remains a significant shareolder of Diamondback Energy. Aside from Mr. Davidson, several other ‘hedgies’ are also bullish on the stock. Ken Griffin of Citadel Investment Group, holds around 1.1 million shares, boosting the stake considerably during the last quarter of last year. On the other hand, Donald Chiboucis’ Columbus Circle Investors edged down its position by 20% to over 1.39 million shares.

At the end of February, Diamondback Energy conducted a public offering under which it sold almost 3.5 million shares of its common stock, at $62.67 apiece. The net proceeds, worth approximately $208.3 million are planned to be used for financing the acquisitions of additional accreage in the Permian Basin in Texas.

Wexford Capital, in the latest round of 13F filings, disclosed a $1.7 billion equity portfolio, heavily invested in the Basic Materials sector. Rhino Resource Partners, L.P. (NYSE:RNO) is the fund’s second largest holding in terms of value, the position amassing 6.63 million shares, worth $74.47 million. It is followed by American Airlines Group Inc (NASDAQ:AAL), in which Wexford owns 889,100 shares, valued at $22.45 million.

Disclosure: none

Recommended Reading:

Wexford Capital Ups Stake in Cache, Inc. (CACH) to 5%

Wexford Capital Sell Shares of Diamondback Energy Inc (FANG) Again

Hedge Funds Shooting for the Starz (STRZA)

 

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

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!