Citadel Advisors, a Limited Liability Company, announced today a 5.74% stake in Kodiak Oil & Gas Corp. (NYSE:KOG), based on an event that took place on July 12th. Citadel Advisors is one of the four units of Citadel Group L.L.C., a firm that specializes in Asset management and Securities trading, and has presence in seven major cities around the world, including Dallas, New york, Hong Kong, Chicago, London, San Francisco, and Boston.
Kodiak Oil & Gas Corp. is based in Denver, and is an independent energy company, whose main business is exploration, development, and production of oil and natural gas, primarily in the Williston Basin in the U.S. Rocky Mountains. The company recently announced its second Quarter sales volumes, whereby, Oil and Gas increased by 18% and 19% respectively from the first Quarter figures.
Maverick USA was down 3.3% for the second quarter, while Maverick Levered was down 2.1%. Maverick Long Enhanced was up 8%. Year to date, Maverick USA is up 31.8%, while Maverick Levered has gained 49.3%. Maverick Long Enhanced has returned 9.9% for the first six months of the year. Maverick Capital is a long/ short Read More
The sales figures more than tripled and quadrupled, last year’s second quarter figures, after they grew by 370% and 488% respectively for the two products. The company’s stock was trading at approximately $9.00 per share at the time of this writing, which represents around an 85% 52 week change, as compared to S&P500s, 2.16%. During the month of May, 30 million shares attracted short positions from investors, with a slight reduction to 29.62 million in June.
Some of Kodiak Oil and Gas Corp. direct competitors include Double Eagle Petroleum Co. (NASDAQ:DBLE), Marathon Oil Corporation (NYSE:MRO), and Gasco Energy Inc. (NYSE:GSX).
Approximately two thirds of Kodiak Oil and Gas shares are held by institutions (65.80%), with only a mere, 4.72% belonging to insiders. The company is regarded as a small cap stock, with a market cap of $2.41 billion intraday-value, and a total of 263.53 million shares outstanding. Citadel Advisors L.L.C. now holds 15,135,108 shares of Common Stock in the company at a market value of $136.2 million as of the time of this writing.
The acquisition of the stake was confirmed by Citadel Holdings II LP, its Managing Member, Citadel Investment Group II, L.L.C., its General Partner, and /s/ John C. Nagel John C. Nagel, Authorized Signatory, as per the SEC filing, revealed today.