Corigliano Investment Advisers LLC Invests $5.26 Million in Antero Resources Corporation $AR

Key Points

• Corigliano Investment Advisers LLC acquired 129,987 shares of Antero Resources Corporation, worth approximately $5.3 million, making it the 20th largest holding in their portfolio.
• Analysts have given Antero Resources a Moderate Buy rating, with a consensus price target of $43.65, following multiple upgrades from prominent financial institutions.
• Antero Resources reported a quarterly EPS of $0.35, missing the consensus estimate, while their revenue increased by 32.6% year-over-year, totaling $1.30 billion.

Corigliano Investment Advisers LLC acquired a new position in shares of Antero Resources Corporation (NYSE:AR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 129,987 shares of the oil and natural gas company's stock, valued at approximately $5,257,000. Antero Resources accounts for approximately 2.3% of Corigliano Investment Advisers LLC's holdings, making the stock its 20th biggest holding.

Other institutional investors have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in shares of Antero Resources during the 1st quarter valued at about $26,000. Mascagni Wealth Management Inc. acquired a new position in shares of Antero Resources during the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Antero Resources during the fourth quarter worth $35,000. Bessemer Group Inc. boosted its stake 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. Finally, North Star Investment Management Corp. acquired a new stake in Antero Resources in the first quarter worth $44,000. Institutional investors own 83.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Antero Resources from $46.00 to $47.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Roth Capital downgraded Antero Resources from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $44.00 to $32.00 in a research note on Monday, August 18th. UBS Group upgraded Antero Resources from a "neutral" rating to a "buy" rating and set a $43.00 price target on the stock in a report on Wednesday, August 20th. Raymond James Financial boosted their price objective on Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company set a $39.00 target price on Antero Resources and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.65.

Antero Resources Stock Performance

Shares of NYSE AR traded down $0.46 during midday trading on Monday, hitting $32.16. The company's stock had a trading volume of 7,131,710 shares, compared to its average volume of 5,072,165. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.48 and a beta of 0.64. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $33.67 and a 200 day moving average price of $36.36. Antero Resources Corporation has a one year low of $24.53 and a one year high of $44.01.

Antero Resources (NYSE:AR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.33). The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.30 billion. Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. On average, research analysts forecast that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

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.