HITE Hedge Asset Management LLC decreased its holdings in shares of Antero Resources Corporation (NYSE:AR – Free Report) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,709 shares of the oil and natural gas company’s stock after selling 592,431 shares during the period. HITE Hedge Asset Management LLC owned 0.05% of Antero Resources worth $5,607,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Goodman Financial Corp bought a new position in shares of Antero Resources during the third quarter valued at approximately $14,791,000. Caprock Group LLC bought a new position in shares of Antero Resources during the third quarter valued at approximately $1,730,000. Colrain Capital LLC increased its stake in shares of Antero Resources by 56.2% during the third quarter. Colrain Capital LLC now owns 254,550 shares of the oil and natural gas company’s stock valued at $8,543,000 after purchasing an additional 91,550 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of Antero Resources by 201.6% during the third quarter. WINTON GROUP Ltd now owns 68,884 shares of the oil and natural gas company’s stock valued at $2,312,000 after purchasing an additional 46,045 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Antero Resources by 56.9% during the third quarter. Intech Investment Management LLC now owns 406,900 shares of the oil and natural gas company’s stock valued at $13,656,000 after purchasing an additional 147,571 shares in the last quarter. Institutional investors own 83.04% of the company’s stock.
Insider Activity at Antero Resources
In related news, Director Benjamin A. Hardesty sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $44.00, for a total transaction of $528,000.00. Following the completion of the sale, the director owned 150,242 shares of the company’s stock, valued at $6,610,648. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. This trade represents a 14.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 237,316 shares of company stock valued at $9,387,309 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.
Antero Resources Price Performance
Wall Street Analyst Weigh In
A number of brokerages have weighed in on AR. Roth Mkm reaffirmed a “neutral” rating and set a $38.00 target price on shares of Antero Resources in a research note on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Morgan Stanley raised their target price on shares of Antero Resources from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Bank of America raised their target price on shares of Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Mizuho raised their price target on shares of Antero Resources from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Four 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.06.
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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