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.

Steelhead Partners Buys 12% of Endeavour International

A 13D filed with the SEC has disclosed that Steelhead Partners, a hedge fund managed by Michael Johnston (see his latest stock picks), owns 5.3 million shares of oil and gas exploration and production company Endeavour International Corporation (NYSE:END). The fund had initiated a position in Endeavour during the third quarter in the year and owned a little over 4 million shares at the end of September; its most recent purchases have given it 12% of the shares outstanding. Endeavour’s market cap of $240 million (an average of over 700,000 shares are traded daily) means that it is priced at 7 times consensus earnings for 2013. The company is unprofitable on a trailing basis, but revenue is up strongly and it’s worth seeing if its fields are just coming on line- that would be a cheap price for a fast growing producer.

Endeavour International Corporation (NYSE:END)

Loading...