Intech Investment Management LLC Sells 359,654 Shares of Antero Resources Corporation $AR

Intech Investment Management LLC trimmed its position in shares of Antero Resources Corporation (NYSE:AR) by 88.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,246 shares of the oil and natural gas company’s stock after selling 359,654 shares during the quarter. Intech Investment Management LLC’s holdings in Antero Resources were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AR. CIBC Bancorp USA Inc. bought a new position in Antero Resources during the 3rd quarter valued at about $77,294,000. Massachusetts Financial Services Co. MA boosted its position in Antero Resources by 111.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,988,300 shares of the oil and natural gas company’s stock valued at $137,437,000 after buying an additional 2,099,755 shares during the period. AQR Capital Management LLC boosted its position in Antero Resources by 140.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock valued at $116,371,000 after buying an additional 2,023,828 shares during the period. Dimensional Fund Advisors LP boosted its position in Antero Resources by 31.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company’s stock valued at $267,485,000 after buying an additional 1,922,977 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Antero Resources in the 3rd quarter valued at about $52,737,000. 83.04% of the stock is currently owned by institutional investors.

Insider Transactions at Antero Resources

In other news, Director Benjamin A. Hardesty sold 12,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,610,648. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yvette K. Schultz sold 39,490 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 277,665 shares of the company’s stock, valued at $10,903,904.55. The trade was a 12.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 252,316 shares of company stock valued at $9,977,259. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AR. Williams Trading set a $56.00 price objective on shares of Antero Resources in a research report on Monday, April 20th. Zacks Research cut shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings cut shares of Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Citigroup boosted their price objective on shares of Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Finally, Benchmark raised shares of Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Thursday, March 5th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.06.

Antero Resources Price Performance

Shares of AR opened at $37.18 on Friday. The company has a 50 day moving average price of $38.28 and a 200-day moving average price of $36.44. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The stock has a market capitalization of $11.52 billion, a PE ratio of 12.07 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 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.