In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Gastar Exploration Inc. (NYSEMKT:GST) reported that Ares Management Llc. has picked up 45,623,125 of common stock as of 2017-05-25.
The acquisition brings the aggregate amount owned by Ares Management Llc. to a total of 45,623,125 representing less than 19.2% stake in the company.
For those not familiar with the company, Gastar Exploration Inc. is an independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and natural gas liquids in the United States. Gastar’s principal assets are in Oklahoma, referred to as its Mid-Continent area, where it is developing the primarily oil-bearing reservoirs of the Hunton Limestone horizontal play and testing the Meramec Shale/Middle Mississippi Lime formation. Gastar believes its Mid-Continent acreage is prospective for the Meramec Shale/Mississippi Lime formation, the Woodford Shale and the Osage and Oswego formations, which Gastar collectively refers to as the Mid-Continent STACK Play.
A glance at Gastar Exploration Inc. (NYSEMKT:GST)’s key stats reveals a current market capitalization of 254.28 Million based on 211.90 Million shares outstanding and a price at last close of $1.14 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-23, Ares picked up 514,227 at a purchase price of $1.23. This brings their total holding to 56,712,088 as of the date of the filing.
On the sell side, the most recent transaction saw Global unload 1,500,000 shares at a sale price of $0.91. This brings their total holding to 8,500,000.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Gastar Exploration Inc. (NYSEMKT:GST) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.