In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rosehill Resources Inc. (NASDAQ:ROSE) reported that K2 Principal Fund, L.p. has picked up 2,523,233 of common stock as of 2017-06-30.
The acquisition brings the aggregate amount owned by K2 Principal Fund, L.p. to a total of 2,523,233 representing a 32.0% stake in the company.
For those not familiar with the company, Rosehill Resources Inc., formerly KLR Energy Acquisition Corp., is an oil and gas exploration company. The Company is focused on the Delaware Basin portion of the Permian Basin. It has nearly 5,000 net acres with approximately 80% held by production and drilling locations. Its drilling locations are located across ten distinct benches.
A glance at Rosehill Resources Inc. (NASDAQ:ROSE) key stats reveals a current market capitalization of $82.90 Million based on $8.19 Million shares outstanding and a price at last close of $8.34 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-30, Contino picked up 5,000 at a purchase price of $9.12. This brings their total holding to 10,000 as of the date of the filing.
On the sell side, the most recent transaction saw K2 unload 6 shares at a sale price of $8.50. This brings their total holding to 487,820.
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 Rosehill Resources Inc. (NASDAQ:ROSE)as things move forward to see if its progress aligns with these transactions.
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