Louisiana State Employees Retirement System Invests $3.61 Million in Antero Resources Corporation $AR

Louisiana State Employees Retirement System purchased a new stake in shares of Antero Resources Corporation (NYSE:AR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,000 shares of the oil and natural gas company’s stock, valued at approximately $3,607,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in Antero Resources in the 3rd quarter valued at about $30,000. IFP Advisors Inc lifted its stake in shares of Antero Resources by 59.2% in the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 345 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Antero Resources in the fourth quarter valued at approximately $41,000. Hilton Head Capital Partners LLC acquired a new position in shares of Antero Resources during the fourth quarter valued at approximately $44,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Antero Resources during the fourth quarter valued at approximately $45,000. 83.04% of the stock is currently owned by institutional investors.

Antero Resources Stock Performance

Shares of AR opened at $35.15 on Friday. The company has a market capitalization of $10.89 billion, a PE ratio of 11.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day moving average price is $36.35 and its 200 day moving average price is $36.36. Antero Resources Corporation has a 52 week low of $29.10 and a 52 week high of $45.75.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Antero Resources from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Mizuho boosted their price target on shares of Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday. Roth Mkm restated a “neutral” rating and set a $38.00 price objective on shares of Antero Resources in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating and set a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Finally, Benchmark upgraded shares of Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Antero Resources presently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Insiders Place Their Bets

In related news, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the transaction, the insider owned 277,665 shares in the company, valued at approximately $10,903,904.55. This trade represents a 12.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.10% of the company’s stock.

Antero Resources Profile

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.