HITE Hedge Asset Management LLC Reduces Stock Position in Antero Resources Corporation $AR

HITE Hedge Asset Management LLC lowered its stake in Antero Resources Corporation (NYSE:AR) by 78.5% during the 4th quarter, HoldingsChannel reports. The firm owned 162,709 shares of the oil and natural gas company’s stock after selling 592,431 shares during the period. HITE Hedge Asset Management LLC’s holdings in Antero Resources were worth $5,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Annandale Capital LLC increased its holdings in shares of Antero Resources by 0.4% in the 3rd quarter. Annandale Capital LLC now owns 73,754 shares of the oil and natural gas company’s stock worth $2,475,000 after buying an additional 300 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Antero Resources by 16.7% in the 4th quarter. Parallel Advisors LLC now owns 2,108 shares of the oil and natural gas company’s stock worth $73,000 after buying an additional 301 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Antero Resources by 2.0% in the 3rd quarter. Brooklyn Investment Group now owns 15,752 shares of the oil and natural gas company’s stock worth $529,000 after buying an additional 305 shares during the last quarter. Uhlmann Price Securities LLC increased its holdings in shares of Antero Resources by 2.2% in the 3rd quarter. Uhlmann Price Securities LLC now owns 15,125 shares of the oil and natural gas company’s stock worth $508,000 after buying an additional 325 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Antero Resources by 4.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,506 shares of the oil and natural gas company’s stock worth $293,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Stock Performance

Shares of NYSE:AR opened at $34.80 on Friday. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 11.30 and a beta of 0.33. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. The firm’s 50-day moving average is $37.26 and its 200 day moving average is $36.46. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Antero Resources from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Weiss Ratings downgraded shares of Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Wells Fargo & Company boosted their target price on shares of Antero Resources from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Benchmark upgraded shares of Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Thursday, March 5th. Finally, Zacks Research downgraded shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Antero Resources currently has an average rating of “Moderate Buy” and an average price target of $50.06.

Insider Activity at Antero Resources

In related news, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin A. Hardesty sold 12,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $44.00, for a total transaction of $528,000.00. Following the completion of the transaction, the director owned 150,242 shares in the company, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 237,316 shares of company stock worth $9,387,309. Insiders own 4.10% of the company’s stock.

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.