Antero Resources (NYSE:AR – Get Free Report) had its target price lowered by equities researchers at Morgan Stanley from $56.00 to $48.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price objective indicates a potential upside of 39.97% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Barclays lifted their price objective on Antero Resources from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Truist Financial initiated coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They set a “buy” rating and a $56.00 target price for the company. Bank of America increased their target price on Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Benchmark upgraded Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Thursday, March 5th. Finally, Weiss Ratings cut Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.88.
Check Out Our Latest Stock Analysis on Antero Resources
Antero Resources Trading Down 2.5%
Insider Activity
In related news, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the sale, the insider directly owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the sale, the insider directly owned 1,085,192 shares in the company, valued at $42,680,601.36. This trade represents a 14.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.
Institutional Trading of Antero Resources
A number of large investors have recently made changes to their positions in AR. Brandywine Global Investment Management LLC raised its holdings in Antero Resources by 77.8% in the 4th quarter. Brandywine Global Investment Management LLC now owns 215,470 shares of the oil and natural gas company’s stock valued at $7,425,000 after acquiring an additional 94,260 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Antero Resources by 201.6% during the 3rd quarter. WINTON GROUP Ltd now owns 68,884 shares of the oil and natural gas company’s stock valued at $2,312,000 after acquiring an additional 46,045 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Antero Resources by 10.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 659,986 shares of the oil and natural gas company’s stock worth $22,743,000 after purchasing an additional 64,378 shares during the period. Lighthouse Investment Partners LLC grew its stake in shares of Antero Resources by 213.9% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the oil and natural gas company’s stock valued at $10,068,000 after buying an additional 204,420 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Antero Resources by 1,399.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 67,016 shares of the oil and natural gas company’s stock worth $2,309,000 after buying an additional 62,547 shares during the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.
Antero Resources Company Profile
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
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