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Leon Cooperman, Omega Advisors Up Their Stake in Atlas Resource Partners LP (ARP)

Leon Cooperman is still bullish on Atlas Resource Partners, L.P. (NYSE:ARP). In a recent filing with the Securities and Exchange Commission, his fund, Omega Advisors has disclosed the increase in its holding to 6.75 million shares, up from the 6.59 million shares previously reported. The fund’s current position is passive by nature and accounts for 11.2% of  the company’s common stock.

Atlas Resource Partners, L.P. (NYSE:ARP)

Another hedge fund manager who is bullish on this stock is Remy Trafelet. His fund, Trafelet Capital, has increased its stake in Atlas Resource Partners, L.P. (NYSE:ARP)  by 36% during the third quarter of 2013. Trafelet Capital currently holds 754,595 shares valued at $15.8 million. It is important to note that this investment accounts for 11.4% of the fund’s equity portfolio. Magnetar Capital has, on the other hand, been reducing it’s exposure to this stock. Alec Litowitz and Ross Laser have more than halved their fund’s holding of Atlas Resource stock to 188,024 shares reportedly worth $3.9 million. Jim Simons, the manager of Renaissance Technologies, has liquidated his fund’s stake in the stock, by selling 27,000 shares during Q3.

Atlas Resource Partners, L.P. (NYSE:ARP) is a crude oil and natural gas producer. In 2013, the stock has fallen 8.7% to a current share price of $20.33. The company has a market cap of $1.23 billion and pays an annual dividend of $0.56, which represents a 11.03% yield.

On November 8th, Atlas Resource has released their latest quarterly financial report. For the three months ended September 30, the company posted revenues of $91 million, a 22% year-over-year increase, and a loss per share of $0.74. The company is expected to increase its revenues to $186 million during the fourth quarter and to post a loss of $0.08 per share.

Disclosure: none

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