Akanthos Capital Management Lowers stake in Breitburn Energy Partners LP (BBEP)

Breitburn Energy Partners LP (BBEP) : Akanthos Capital Management reduced its stake in Breitburn Energy Partners LP by 31.79% during the most recent quarter end. The investment management company now holds a total of 2,728,500 shares of Breitburn Energy Partners LP which is valued at $526,601 after selling 1,271,500 shares in Breitburn Energy Partners LP , the firm said in a disclosure report filed with the SEC on May 11, 2016.Breitburn Energy Partners LP makes up approximately 1.96% of Akanthos Capital Management’s portfolio.

Other Hedge Funds, Including , Savant Capital boosted its stake in BBEP in the latest quarter, The investment management firm added 5,500 additional shares and now holds a total of 21,200 shares of Breitburn Energy Partners LP which is valued at $4,092.Spot Trading L.l.c reduced its stake in BBEP by selling 105,900 shares or 91.58% in the most recent quarter. The Hedge Fund company now holds 9,732 shares of BBEP which is valued at $1,878.Airain Ltd boosted its stake in BBEP in the latest quarter, The investment management firm added 134,140 additional shares and now holds a total of 153,762 shares of Breitburn Energy Partners LP which is valued at $29,676.Indexiq Advisors reduced its stake in BBEP by selling 556 shares or 6.71% in the most recent quarter. The Hedge Fund company now holds 7,731 shares of BBEP which is valued at $2,474.

Breitburn Energy Partners LP closed down -0.1268 points or -65.77% at $0.066 with 4,11,39,226 shares getting traded on Monday. Post opening the session at $0.068, the shares hit an intraday low of $0.05 and an intraday high of $0.0749 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Breitburn Energy Partners LP reported $-4.25 EPS for the quarter, missing the analyst consensus estimate by $ -4.24 based on the information available during the earnings call on Feb 26, 2016. Analyst had a consensus of $-0.01. The company had revenue of $287.50 million for the quarter, compared to analysts expectations of $314.64 million. The company’s revenue was down -63.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on Breitburn Energy Partners LP. Breitburn Energy Partners LP was Downgraded by Wells Fargo to ” Underperform” on Feb 18, 2016.

Breitburn Energy Partners L.P. is an independent oil and gas partnership focused on the acquisition exploitation and development of oil NGL and natural gas properties in the United States. Its assets consist primarily of producing and non-producing oil NGL and natural gas reserves located in seven producing areas which include Ark-La-Tex (Arkansas Louisiana and East Texas); Michigan Indiana and Kentucky (MI/IN/KY); Permian Basin in Texas and New Mexico; Mid-Continent (Oklahoma Kansas and the Texas Panhandle);Rockies (Wyoming); Florida (and Alabama) and California. Its midstream assets include transmission and gathering pipelines gas processing plants NGL recovery plants a controlling interest in a salt water disposal company a 51-mile oil pipeline in Oklahoma and the 120-mile Transpetco Pipeline. The Company’s total estimated proved reserves were approximately 315.3 MMBoe of which approximately 55% was oil over 8% was NGLs and approximately 37% was natural gas.

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