Castleark Management LLC Invests $994,000 in Antero Midstream Corporation $AM

Castleark Management LLC purchased a new stake in shares of Antero Midstream Corporation (NYSE:AM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,680 shares of the pipeline company’s stock, valued at approximately $994,000.

Other large investors have also recently added to or reduced their stakes in the company. SIR Capital Management L.P. purchased a new position in Antero Midstream in the second quarter worth approximately $10,638,000. Legal & General Group Plc purchased a new stake in Antero Midstream in the second quarter valued at $11,005,000. The Manufacturers Life Insurance Company purchased a new stake in Antero Midstream in the second quarter valued at $4,872,000. Sanctuary Advisors LLC acquired a new position in shares of Antero Midstream in the 2nd quarter valued at $5,800,000. Finally, RR Advisors LLC acquired a new position in shares of Antero Midstream in the 2nd quarter valued at $34,435,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Up 3.1%

Antero Midstream stock opened at $22.60 on Thursday. The company has a market capitalization of $10.73 billion, a PE ratio of 26.90 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83. The firm has a 50 day moving average price of $22.27 and a 200 day moving average price of $22.02.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $326.43 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Antero Midstream Corporation will post 1.09 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s payout ratio is currently 107.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Wells Fargo & Company upped their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.50.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director directly owned 68,204 shares of the company’s stock, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.