Lazard Asset Management LLC Buys 594,352 Shares of Antero Resources Corporation $AR

Lazard Asset Management LLC increased its stake in shares of Antero Resources Corporation (NYSE:AR) by 427.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 733,422 shares of the oil and natural gas company’s stock after acquiring an additional 594,352 shares during the period. Lazard Asset Management LLC owned 0.24% of Antero Resources worth $31,126,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Antero Resources during the third quarter worth approximately $30,000. IFP Advisors Inc raised its position in shares of Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 345 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Antero Resources in the fourth quarter valued at approximately $41,000. Hilton Head Capital Partners LLC bought a new position in shares of Antero Resources in the fourth quarter valued at approximately $44,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Antero Resources in the fourth quarter worth $45,000. 83.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Antero Resources

In related news, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the transaction, the insider directly owned 1,085,192 shares in the company, valued at $42,680,601.36. This represents a 14.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction on Monday, May 4th. The shares were 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 approximately $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AR has been the subject of several recent analyst reports. Williams Trading set a $56.00 price objective on shares of Antero Resources in a report on Monday, April 20th. Bank of America lifted their target price on shares of Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Zacks Research lowered shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Texas Capital upgraded shares of Antero Resources to a “strong-buy” rating in a report on Thursday, June 25th. Finally, UBS Group lowered their price target on Antero Resources from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.56.

Antero Resources Stock Up 0.5%

AR opened at $34.00 on Wednesday. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 11.04 and a beta of 0.33. The business has a 50 day moving average of $34.93 and a 200-day moving average of $36.36.

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.