Antero Resources (NYSE:AR) Shares Gap Down to $3.75
Antero Resources Corp (NYSE:AR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.83, but opened at $3.75. Antero Resources shares last traded at $3.60, with a volume of 8,036,116 shares.
A number of analysts recently issued reports on the company. Capital One Financial raised Antero Resources from an “underweight” rating to an “equal weight” rating in a report on Tuesday, June 18th. Macquarie raised Antero Resources from an “underperform” rating to a “neutral” rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Canaccord Genuity reissued an “average” rating and set a $3.50 price objective on shares of Antero Resources in a report on Wednesday, June 26th. Morgan Stanley raised their price target on Antero Resources from $6.00 to $6.25 and gave the company an “equal weight” rating in a report on Friday, July 12th. Finally, TD Securities lowered their price target on Antero Resources from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $12.13.
The firm has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $7.04. The stock has a market cap of $1.16 billion, a PE ratio of 4.68 and a beta of 0.70. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78.
In related news, Director James R. Levy sold 16,094,190 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $6.17, for a total transaction of $99,301,152.30. Following the transaction, the director now directly owns 116,214 shares of the company’s stock, valued at approximately $717,040.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glen C. Warren, Jr. acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $173,250.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 48,050 shares of company stock worth $330,062. 9.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Magnetar Financial LLC grew its position in shares of Antero Resources by 41.2% in the 2nd quarter. Magnetar Financial LLC now owns 145,933 shares of the oil and natural gas company’s stock worth $807,000 after buying an additional 42,596 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Antero Resources by 7.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 46,314 shares of the oil and natural gas company’s stock valued at $256,000 after purchasing an additional 3,278 shares during the period. MAI Capital Management purchased a new position in shares of Antero Resources in the 2nd quarter valued at approximately $66,000. Raffles Associates LP purchased a new position in shares of Antero Resources in the 2nd quarter valued at approximately $830,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Antero Resources in the 2nd quarter valued at approximately $4,872,000. Institutional investors and hedge funds own 93.92% of the company’s stock.
About Antero Resources (NYSE:AR)
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.
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