Antero Resources Corporation $AR Stake Lessened by Crystal Cove Asset Management LLC

Crystal Cove Asset Management LLC reduced its stake in shares of Antero Resources Corporation (NYSE:AR) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,324 shares of the oil and natural gas company’s stock after selling 220,063 shares during the quarter. Antero Resources comprises approximately 13.6% of Crystal Cove Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Crystal Cove Asset Management LLC owned about 0.09% of Antero Resources worth $9,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Antero Resources during the 2nd quarter worth approximately $966,982,000. Bank of New York Mellon Corp purchased a new stake in Antero Resources in the 2nd quarter valued at $106,063,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Antero Resources in the 2nd quarter valued at $100,212,000. Palo Duro Investment Partners LP purchased a new stake in Antero Resources in the 2nd quarter valued at $95,985,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Antero Resources during the 2nd quarter worth $78,177,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group lowered their price target on Antero Resources from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Scotiabank began coverage on Antero Resources in a research note on Wednesday, October 14th. They set a “sector outperform” rating and a $46.00 price objective for the company. Benchmark increased their price objective on Antero Resources from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Citigroup lifted their target price on Antero Resources from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Finally, Raymond James Financial lifted their target price on Antero Resources from $50.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 1st. Five investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.74.

Antero Resources Trading Up 0.0%

NYSE:AR opened at $38.72 on Friday. The stock has a fifty day moving average price of $37.42 and a two-hundred day moving average price of $36.98. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 8.74 and a beta of 0.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.39 and a current ratio of 0.39. Antero Resources Corporation has a 1 year low of $31.15 and a 1 year high of $45.75.

About Antero Resources

Antero Resources Corporation is an independent energy company focused on acquiring, developing and producing natural gas, natural gas liquids and oil from unconventional reserves in the Appalachian Basin. Its operations are concentrated in the Marcellus Shale in West Virginia and the Utica Shale in Ohio. The company’s products include natural gas and natural gas liquids such as ethane, propane, butane and natural gasoline. Antero also markets and transports its production to customers, including users in domestic and international energy markets.