Weiss Asset Management LP Acquires New Position in Antero Resources Corporation $AR

Weiss Asset Management LP acquired a new stake in shares of Antero Resources Corporation (NYSE:AR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,000 shares of the oil and natural gas company’s stock, valued at approximately $2,716,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AR. Sunbelt Securities Inc. purchased a new position in shares of Antero Resources in the third quarter worth about $30,000. IFP Advisors Inc raised its position in shares of Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 345 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Antero Resources during the 4th quarter valued at approximately $41,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Antero Resources during the 4th quarter valued at approximately $44,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in Antero Resources in the 4th quarter worth approximately $45,000. Institutional investors own 83.04% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael N. Kennedy sold 185,826 shares of Antero Resources stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Antero Resources stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the sale, the insider directly owned 277,665 shares of the company’s stock, valued at $10,903,904.55. This represents a 12.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AR. Truist Financial lowered their target price on shares of Antero Resources from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $57.00 price target on shares of Antero Resources in a report on Friday, May 1st. UBS Group reduced their price target on Antero Resources from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. The Goldman Sachs Group decreased their price objective on Antero Resources from $46.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Roth Capital reissued a “neutral” rating and set a $38.00 price objective on shares of Antero Resources in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Antero Resources currently has an average rating of “Moderate Buy” and an average price target of $48.56.

Antero Resources Stock Performance

Antero Resources stock opened at $35.31 on Monday. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $10.94 billion, a PE ratio of 11.46 and a beta of 0.33. The firm’s 50 day simple moving average is $35.12 and its 200 day simple moving average is $36.34.

Antero Resources Company 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.