Bank of Nova Scotia Invests $5.68 Million in Antero Resources Corporation (NYSE:AR)

Bank of Nova Scotia bought a new position in shares of Antero Resources Corporation (NYSE:AR) during the 1st quarter, Holdings Channel reports. The institutional investor bought 140,375 shares of the oil and natural gas company’s stock, valued at approximately $5,677,000.

Several other institutional investors and hedge funds have also bought and sold shares of AR. Mascagni Wealth Management Inc. bought a new stake in Antero Resources during the fourth quarter worth about $31,000. Capital A Wealth Management LLC bought a new stake in Antero Resources during the fourth quarter worth about $35,000. Bessemer Group Inc. raised its holdings in Antero Resources by 64.7% during the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company’s stock worth $42,000 after acquiring an additional 411 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Antero Resources during the first quarter worth about $44,000. Finally, Sunbelt Securities Inc. bought a new stake in Antero Resources during the first quarter worth about $56,000. Institutional investors own 83.04% of the company’s stock.

Insider Buying and Selling

In other Antero Resources news, Director W Howard Keenan, Jr. sold 1,061,987 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.82, for a total value of $43,350,309.34. Following the sale, the director owned 38,013 shares in the company, valued at $1,551,690.66. This trade represents a 96.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yvette K. Schultz sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $39.86, for a total transaction of $1,004,472.00. Following the completion of the sale, the insider owned 306,819 shares in the company, valued at $12,229,805.34. This represents a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,125,200 shares of company stock worth $45,887,466 over the last three months. 6.70% of the stock is currently owned by insiders.

Antero Resources Stock Performance

AR opened at $33.01 on Tuesday. The firm has a market cap of $10.20 billion, a P/E ratio of 21.03 and a beta of 0.64. Antero Resources Corporation has a 52-week low of $24.53 and a 52-week high of $44.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.30 and a current ratio of 0.30. The business’s fifty day moving average is $37.70 and its 200-day moving average is $37.58.

Antero Resources (NYSE:AR) last announced its quarterly earnings data on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.33). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. Sell-side analysts expect that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AR shares. Bank of America upped their target price on Antero Resources from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Barclays boosted their price target on Antero Resources from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. UBS Group boosted their price target on Antero Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. TD Cowen raised Antero Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company set a $39.00 price target on Antero Resources and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.53.

Antero Resources Company Profile

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.