Encore Global Management LP Takes $1.23 Million Position in Antero Resources Corporation $AR

Encore Global Management LP acquired a new position in Antero Resources Corporation (NYSE:ARFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,000 shares of the oil and natural gas company’s stock, valued at approximately $1,231,000.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Antero Resources in the 3rd quarter valued at $30,000. IFP Advisors Inc boosted its stake in shares of Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Antero Resources during the 4th quarter worth about $41,000. Hilton Head Capital Partners LLC bought a new position in shares of Antero Resources in the 4th quarter valued at about $44,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Antero Resources in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 83.04% of the company’s stock.

Insider Transactions at Antero Resources

In related news, insider Michael N. Kennedy sold 185,826 shares of Antero Resources stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the transaction, the insider owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $39.27, for a total value of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares in the company, valued at approximately $10,903,904.55. This trade represents a 12.45% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.10% of the company’s stock.

Antero Resources Stock Up 0.5%

Shares of AR stock opened at $34.00 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s 50-day moving average is $34.93 and its 200-day moving average is $36.36. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 11.04 and a beta of 0.33. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75.

Analysts Set New Price Targets

Several analysts recently issued reports on AR shares. Barclays upped their target price on Antero Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. Zacks Research downgraded Antero Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Bank of America boosted their price target on Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Morgan Stanley dropped their price objective on Antero Resources from $56.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Truist Financial cut their price objective on Antero Resources from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.56.

View Our Latest Report on AR

Antero Resources Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Antero Resources (NYSE:AR)

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