Encore Global Management LP Takes Position in Antero Resources Corporation $AR

Encore Global Management LP bought a new position in shares of Antero Resources Corporation (NYSE:AR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,000 shares of the oil and natural gas company’s stock, valued at approximately $1,231,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Antero Resources by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock valued at $434,597,000 after buying an additional 1,153,422 shares during the last quarter. State Street Corp raised its holdings in Antero Resources by 1.2% in the 3rd quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock valued at $341,368,000 after acquiring an additional 116,461 shares during the period. Sourcerock Group LLC lifted its position in Antero Resources by 10.6% during the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock worth $328,529,000 after acquiring an additional 783,117 shares during the last quarter. Invesco Ltd. lifted its position in Antero Resources by 18.0% during the fourth quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock worth $172,291,000 after acquiring an additional 761,842 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Antero Resources by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock worth $161,768,000 after acquiring an additional 1,226,828 shares during the period. Institutional investors own 83.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AR. Morgan Stanley decreased their target price on Antero Resources from $56.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Texas Capital raised Antero Resources to a “strong-buy” rating in a report on Thursday, June 25th. Citigroup boosted their price target on Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Williams Trading set a $56.00 price objective on Antero Resources in a report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $57.00 price objective on shares of Antero Resources in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.56.

Antero Resources Trading Up 0.5%

Shares of AR stock opened at $34.00 on Wednesday. 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 cap of $10.54 billion, a P/E ratio of 11.04 and a beta of 0.33. The stock has a 50 day simple moving average of $34.93 and a 200 day simple moving average of $36.36. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75.

Insiders Place Their Bets

In other news, insider Yvette K. Schultz sold 39,490 shares of the company’s stock in a transaction on Monday, May 4th. The stock was 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 in the company, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.33, for a total value of $7,308,536.58. Following the completion of the transaction, the insider owned 1,085,192 shares in the company, valued at $42,680,601.36. The trade was a 14.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

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.