Corp Petroleum Anadarko Unloads 5,750,000 Shares of Western Gas Equity Partners LP (WPG)


Corp Petroleum Anadarko, one of Western Gas Equity Partners LP (NYSE:WPG)’s largest shareholders, sold a bulk of 5,750,000 shares of Common Units representing limited partner interests today. The stock was sold indirectly, and the shareholder paid a price of $58.31 per share. Although this is Anadarko’s first disposition of the fiscal year, the insider has repeatedly sold large bulks of the $13.1 billion market cap oil and gas firm’s shares in the past. In March of last year, a sale of 449,129 shares for a price of $54.55 per share was reported.

Furthermore, while insider stock purchases haven’t occurred since 2012, several hedge funds hold a shareholder position at Western Gas Equity, such as Jim Simon’s Renaissance Technologies, which owns 43,425 shares for a value of $2.1 million. And while Driehaus Capital, Richard Driehaus’ hedge fund, holds a solid position with 113,217 shares, worth $5.5 million, the largest shareholder remains Lucas Capital Management. Western Gas accounts for 2.15% of the hedge funds portfolio, run by Russell Lucas, with 137,762 shares, worth $6.7 million.

Disclosure: none