Tourbillon Capital Partners Boosts Exposure to Atlas Energy LP (ATLS)

Led by Jason Karp, Tourbillon Capital Partners considerably increased its passive stake in Atlas Energy LP (NYSE:ATLS). According to a recent filing with the Securities and Exchange Commission, the fund now owns 2.61 million shares – 5.10% of the Atlas Energy’s aggregate common stock outstanding. Previously, Tourbillon owned slightly more than 27,000 shares and rights to purchase 38,400 other in the form of call options.

Atlas Energy LP (NYSE:ATLS)

Incorporated on December 15, 2005, Atlas Energy LP (NYSE:ATLS), is a US master limited partnership which focuses on the production and processing of oil & natural gas. The company develops necessary and efficient natural gas resources through two of its subsidiaries: Atlas Resource Partners, L.P. (NYSE:ARP), an independent developer and producer of natural gas, crude oil and natural gas liquids with operations in basins across the US, and Atlas Pipeline Partners, L.P. (NYSE:APL), a provider of natural gas liquid transportation, gathering and processing services in the Anadarko, Permian, and Appalachian Basins.

In 2013, the company generated net losses of $75.37 million or $1.47 per share, a number which is nearly 44.00% higher than that for the losses generated in 2012. Its Debt to Equity ratio significantly higher than the average for the Oil & Gas Midstream Industry, the company’s stock price considered distressed, currently trading at around $42.25 apiece. In its financial results report for the full year 2013, the company declared that Atlas Resource Partners’ previously approved new dividend payment policy of will amount to an initial monthly distribution of $0.1933 per common unit. Market outlook on Atlas Energy LP (NYSE:ATLS)’s prospects is quite positive, experts estimating the company to deliver earnings of $0.37 per share this year and providing recommendations to buy the stock.

Billionaire Leon Cooperman and Omega Advisors are also bullish on Atlas Energy LP (NYSE:ATLS), upping the fund’s holding of the company to 6.92 million shares a couple of weeks ago. Balyasny Asset Management, a fund managed by Dmitry Balyasny, is also a large holder of Atlas Energy’s stock, with a position of nearly 1.65 million shares.

Formerly working at Steven Cohen‘s SAC Capital Advisors, Jason Karp started $1.14 billion stock hedge fund Tourbillon Capital Partners last year. More than 45.00% of the fund’s equity portfolio is concentrated in the Technology and Services Sectors, while another 20.00% in ETFs. Exterran Holdings, Inc. (NYSE:EXH), in which Tourbillon owns 910,000 shares, is among the fund’s largest positions.

Jason Karp presented at the 19th annual Sohn Investment Conference held on May 5, 2014. Among his suggestions, Mr. Karp expressed positive views on Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), a travel service provider for hotel accommodations, airline tickets and packaged tours in China, noting that the company’s long term price target is $115 to $170 compared to the current price of around $45.30 and that Chinese travel offers highest probability growth themes on the planet

Disclosure: none

Recommended reading:

David Einhorn’s Interview: Tech is a Smaller Bubble

Mario Gabelli, GAMCO Investors’ Biggest Equity Portfolio Moves During the First Quarter

Prescott Group Capital Management’s Top New Holdings

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!