Goodman Financial Corp reduced its stake in shares of Antero Resources Corporation (NYSE:AR – Free Report) by 28.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 331,735 shares of the oil and natural gas company’s stock after selling 129,071 shares during the quarter. Antero Resources accounts for approximately 2.4% of Goodman Financial Corp’s investment portfolio, making the stock its 19th biggest holding. Goodman Financial Corp’s holdings in Antero Resources were worth $14,079,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Antero Resources by 1.2% in the 3rd quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock worth $341,368,000 after acquiring an additional 116,461 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Antero Resources by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,085,648 shares of the oil and natural gas company’s stock valued at $313,106,000 after purchasing an additional 1,115,258 shares during the last quarter. Sourcerock Group LLC increased its holdings in shares of Antero Resources by 10.6% in the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock valued at $328,529,000 after purchasing an additional 783,117 shares during the period. Invesco Ltd. increased its holdings in shares of Antero Resources by 18.0% in the fourth quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock valued at $172,291,000 after purchasing an additional 761,842 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Antero Resources by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock valued at $161,768,000 after purchasing an additional 1,226,828 shares during the period. 83.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on AR. Zacks Research downgraded Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Antero Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price objective on shares of Antero Resources from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Roth Capital reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Antero Resources in a report on Thursday, April 30th. Finally, Mizuho increased their price objective on shares of Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Antero Resources presently has an average rating of “Moderate Buy” and a consensus target price of $49.12.
Insider Activity at Antero Resources
In related news, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction 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 approximately $42,680,601.36. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the sale, the insider owned 277,665 shares in the company, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.10% of the stock is owned by insiders.
Antero Resources Trading Down 0.6%
Shares of NYSE:AR opened at $33.36 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75. The business has a 50 day moving average of $35.41 and a two-hundred day moving average of $36.33. The company has a market capitalization of $10.34 billion, a PE ratio of 10.83 and a beta of 0.33.
About Antero Resources
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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