Legal & General Group Plc Cuts Stock Holdings in Antero Resources Corporation $AR

Legal & General Group Plc trimmed its position in shares of Antero Resources Corporation (NYSE:AR) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 525,814 shares of the oil and natural gas company’s stock after selling 45,849 shares during the quarter. Legal & General Group Plc’s holdings in Antero Resources were worth $18,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in Antero Resources during the 3rd quarter worth $30,000. IFP Advisors Inc boosted its holdings in Antero Resources by 59.2% during 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 last quarter. Sound Income Strategies LLC boosted its holdings in Antero Resources by 167.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,824 shares of the oil and natural gas company’s stock worth $59,000 after acquiring an additional 1,143 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in Antero Resources by 100.1% during the 3rd quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company’s stock worth $83,000 after acquiring an additional 1,244 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Antero Resources during the 4th quarter worth $99,000. 83.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Antero Resources

In related news, insider Yvette K. Schultz sold 39,490 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was 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 in the company, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin A. Hardesty sold 12,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $44.00, for a total value of $528,000.00. Following the completion of the sale, the director owned 150,242 shares in the company, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 252,316 shares of company stock worth $9,977,259. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AR shares. Morgan Stanley lifted their price objective on shares of Antero Resources from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Truist Financial initiated coverage on Antero Resources in a research note on Tuesday, March 24th. They set a “buy” rating and a $56.00 target price on the stock. Citigroup lifted their target price on Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Jefferies Financial Group reiterated a “buy” rating and set a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Finally, TD Cowen upgraded Antero Resources to a “strong-buy” rating in a research note on Monday, February 9th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.06.

Antero Resources Trading Up 2.9%

Shares of Antero Resources stock opened at $36.78 on Tuesday. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The stock’s 50-day simple moving average is $38.66 and its 200 day simple moving average is $36.39. The stock has a market capitalization of $11.40 billion, a P/E ratio of 11.94 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.

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.