Confluence Investment Management LLC Trims Stock Holdings in Antero Resources Corporation $AR

Confluence Investment Management LLC decreased its holdings in Antero Resources Corporation (NYSE:AR) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,577 shares of the oil and natural gas company’s stock after selling 1,335 shares during the period. Confluence Investment Management LLC’s holdings in Antero Resources were worth $789,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of Antero Resources in the first quarter worth about $26,000. Mascagni Wealth Management Inc. purchased a new position in shares of Antero Resources in the fourth quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in shares of Antero Resources in the fourth quarter valued at approximately $35,000. Bessemer Group Inc. boosted its position in shares of Antero Resources by 64.7% in the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company’s stock valued at $42,000 after acquiring an additional 411 shares during the period. Finally, North Star Investment Management Corp. bought a new position in shares of Antero Resources in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Stock Up 0.8%

Shares of NYSE AR opened at $33.11 on Friday. Antero Resources Corporation has a 12 month low of $25.36 and a 12 month high of $44.01. The firm has a market capitalization of $10.23 billion, a PE ratio of 21.09 and a beta of 0.63. The firm has a fifty day simple moving average of $33.13 and a two-hundred day simple moving average of $36.19. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15.

Antero Resources (NYSE:AR) last released its earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.33). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. Antero Resources’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share. Equities analysts expect that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on AR. Roth Capital lowered shares of Antero Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $44.00 to $32.00 in a research report on Monday, August 18th. Bank of America raised their price objective on shares of Antero Resources from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Morgan Stanley upped their price objective on shares of Antero Resources from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Raymond James Financial boosted their target price on Antero Resources from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Scotiabank reissued an “outperform” rating on shares of Antero Resources in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.06.

Antero Resources Company Profile

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.