Ken Griffin and Citadel Surge Stake in Athlon Energy Inc (ATHL) to 4.3%

Ken Griffin and his fund Citadel Investment Group, raised their stake in Athlon Energy Inc (NYSE:ATHL). As a recent filing with the SEC showed, Citadel currently owns around 3.48 million shares of Athlon Energy, versus 1.19 million held as at the end of last year. The new position amasses 4.3% of the outstanding common stock and is passive by nature.

Ken Griffin with computers

The share price of Athlon Energy Inc (NYSE:ATHL), a company specialized in independent oil and gas exploration and production, gained over 26% since the beginning of the year, and almost 42% over the past 52 weeks. The stock trails a P/E of 47.xx, well above the industry average of 18.xx.

Recently, Athlon Energy Inc (NYSE:ATHL) signed several agreements with five sellers, under the terms of which, the company will acquire some producing properties and undeveloped acreage for a total of $873 million in cash. According to a statement, the current net production of the properties amounts to around 4,800 barrels of oil equivalent per day, and have net proved reserves of around 31 MMBOE.

For the last year, Athlon Energy Inc (NYSE:ATHL) reported net income of $0.94 per share, slightly above the analysts’ consensus estimate. For the first quarter of 2014, the consensus estimate stands at below $0.30 per share, and for the full year, the company is expected to report EPS of $1.44.

Clint Carlson‘s Carlson Capital and Israel Englander‘s Millennium Management also hold large positions in Athlon Energy Inc (NYSE:ATHL), as at the end of 2013. However, while Carlson raised its stake by over 30% to 680,600 shares, Millennium Management trimmed its holding by 16% to 427,900.

Only a couple of days ago, Citadel reported an increase in another one of its holdings, Five Below Inc (NASDAQ:FIVE), in which the fund currently owns around 3.18 million shares, versus 778,800 shares held previously.

Disclosure: none

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