HITE Hedge Asset Management LLC Lowers Stake in Antero Resources Corporation $AR

HITE Hedge Asset Management LLC lowered its holdings in shares of Antero Resources Corporation (NYSE:AR) by 33.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 755,140 shares of the oil and natural gas company’s stock after selling 374,005 shares during the period. Antero Resources makes up 1.4% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. HITE Hedge Asset Management LLC owned about 0.24% of Antero Resources worth $25,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in shares of Antero Resources in the 2nd quarter worth approximately $532,000. Stephens Investment Management Group LLC increased its position in Antero Resources by 4.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,185,601 shares of the oil and natural gas company’s stock valued at $39,789,000 after buying an additional 51,126 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Antero Resources by 103.8% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 436,476 shares of the oil and natural gas company’s stock valued at $14,648,000 after buying an additional 222,311 shares in the last quarter. Goodman Financial Corp purchased a new position in Antero Resources during the third quarter valued at $14,791,000. Finally, Edgestream Partners L.P. purchased a new position in Antero Resources during the second quarter valued at $3,015,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Insider Transactions at Antero Resources

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $39.33, for a total value of $589,950.00. Following the transaction, the insider directly owned 319,122 shares of the company’s stock, valued at approximately $12,551,068.26. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Antero Resources Price Performance

Shares of AR opened at $40.43 on Friday. The firm has a fifty day simple moving average of $34.70 and a two-hundred day simple moving average of $33.91. The firm has a market cap of $12.47 billion, a PE ratio of 20.02 and a beta of 0.52. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $44.01.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. On average, equities analysts anticipate that Antero Resources Corporation will post 2.74 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on AR. Tudor Pickering raised Antero Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. UBS Group lifted their price target on Antero Resources from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Antero Resources in a research note on Monday, December 29th. Wells Fargo & Company raised their price objective on shares of Antero Resources from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, BMO Capital Markets lifted their target price on shares of Antero Resources from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, December 9th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.87.

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.