Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Ken Griffin’s Citadel Raised Stake In Basic Energy Services Inc.

CITADEL INVESTMENT GROUPKen Griffin’s Citadel Investment Group disclosed today for its 6.5% passive stake in Basic Energy Services Inc. (BAS). According to a regulatory filing, Citadel Investment Group now has 2.75 million shares of BAS in its portfolio, giving a 6.5% passive stake ownership of the company. Citadel had 805 thousand shares of BAS as of the end of September, and passed the 5% threshold on January 25. So it’s possible that Citadel saw BAS’s recent price decline as a buying opportunity and bought the shares at about $17 per share. Currently BAS is hovering at around $17.70.

Donald Chiboucis ‘s Columbus Circle Investors initiated a new position in BAS in the third quarter 2011, with more than 1 million shares in its position. Glenn Russell Dubin’s Highbridge Capital Management boosted its position by 252% and revealed 711 thousand shares of BAS at that time.

Ken Griffin is the founder and CEO of Citadel Investment Group. The firm is based in Chicago, and ranks among the largest and most successful hedge funds in the world. He avoided extensive press coverage in manners similar to other hedge funds for several years. Ken Griffin has a personal net worth of $2.3 billion as of 2011, making him the 512th richest man in the world. Citadel Investment Group had a portfolio value of nearly $43 billion in the second quarter.

Basic Energy Services, Inc. “provides a range of well site services to oil and natural gas drilling and producing companies, including well servicing, fluid services and well site construction services, completion and remedial services and contract drilling. Its operations are managed regionally and are concentrated in United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah and Montana,” according to Google Finance.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...