Carlson Capital Trims Forestar Group & Archrock Positions ~ market folly

Tuesday, November 29, 2016

Carlson Capital Trims Forestar Group & Archrock Positions

Clint Carlson's hedge fund firm Carlson Capital has filed two separate 13D's with the SEC.

Carlson Trims Forestar Group Position

First, Carlson has submitted a 13D filing on Forestar Group (FOR) which indicates they now own 7.55% of FOR with 2.54 million shares.  This is down 323,800 shares from the 2.86 million shares they owned at the end of the third quarter. 

The filing shows they were selling at various dates in November, and as recently as November 21st at prices ranging from $11.60 to $12.8064.

Per Google Finance, Forestar Group is "a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties. Its Oil and Gas segment is an independent oil and gas exploration, development and production operation and manages its owned and leased mineral interests. Its Other Natural Resources segment manages its timber, recreational leases and water resource initiatives. The Company owns directly or through ventures interests in approximately 60 residential and mixed-use projects consisting of over 7,000 acres of real estate located in approximately 10 states and approximately 20 markets."

Also Trims Archrock Stake

Second, Carlson Capital also submitted an SEC filing regarding their stake in Archrock (AROC).  Per the filing,  Carlson owned 12.17% of the company with 8.47 million shares as of November 18th. 

However, Carlson has continued selling per a separately filed Form 4 with the SEC.

Some of their recent activity includes selling 453,433 shares in total on November 22nd, 23rd, and 25th at prices around $13.4951 to $13.7899.  At latest tally, Carlson owned 7.79 million AROC shares.

Per Google Finance, Archrock is "formerly Exterran Holdings, Inc., is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States. The Company's segments include contract operations and aftermarket services. The contract operations segment primarily provides natural gas compression services to meet specific customer requirements. The aftermarket services segment sells parts and components, and provides operation, maintenance, overhaul and reconfiguration services to customers having compression and oilfield power generation equipment. The Company also has equity interest in Archrock Partners, L.P. (the Partnership), a master limited partnership that provides natural gas contract operations services to customers throughout the United States."

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