KLP Kapitalforvaltning AS Boosts Position in Antero Resources Corporation $AR

KLP Kapitalforvaltning AS grew its stake in shares of Antero Resources Corporation (NYSE:AR) by 35.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 116,500 shares of the oil and natural gas company’s stock after acquiring an additional 30,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Antero Resources were worth $3,910,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AR. Huntington National Bank increased its holdings in Antero Resources by 91.3% during the 2nd quarter. Huntington National Bank now owns 656 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 313 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Antero Resources by 114.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 938 shares of the oil and natural gas company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Antero Resources by 9,900.0% in the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the oil and natural gas company’s stock worth $60,000 after purchasing an additional 1,485 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Antero Resources by 701.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock worth $120,000 after purchasing an additional 2,616 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Antero Resources by 447.4% in the second quarter. Smartleaf Asset Management LLC now owns 3,427 shares of the oil and natural gas company’s stock worth $141,000 after buying an additional 2,801 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors.

Antero Resources Stock Down 2.4%

Shares of NYSE AR opened at $31.42 on Friday. The stock has a market capitalization of $9.69 billion, a P/E ratio of 16.71 and a beta of 0.50. Antero Resources Corporation has a one year low of $29.10 and a one year high of $44.01. The firm’s 50 day simple moving average is $34.42 and its two-hundred day simple moving average is $33.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.31.

Antero Resources (NYSE:AR) last announced its quarterly earnings data on Wednesday, October 29th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.38). Antero Resources had a net margin of 11.73% and a return on equity of 7.51%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company posted ($0.07) EPS. Antero Resources’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts expect that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

Insider Transactions at Antero Resources

In related news, insider Brendan E. Krueger acquired 5,000 shares of Antero Resources stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $33.35 per share, with a total value of $166,750.00. Following the completion of the purchase, the insider owned 295,917 shares of the company’s stock, valued at $9,868,831.95. This represents a 1.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AR has been the subject of several recent analyst reports. Wall Street Zen cut Antero Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $39.00 price objective (down previously from $44.00) on shares of Antero Resources in a report on Monday, December 8th. Tudor Pickering raised shares of Antero Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Citigroup upgraded shares of Antero Resources from a “neutral” rating to a “buy” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Tuesday, September 23rd. Finally, Zacks Research raised shares of Antero Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.47.

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.