35,000 Shares in Antero Resources Corporation $AR Bought by Encore Global Management LP

Key Points

• Encore Global Management LP acquired 35,000 Antero Resources shares during the second quarter, valued at approximately $1.23 million. Institutional investors collectively own 83.04% of the company.
• Antero Resources shares opened at $38.04, with a market capitalization of $11.70 billion and a 52-week range of $29.10 to $45.75.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $48.31, although JPMorgan, Truist Financial and Barclays recently reduced their price targets.

Encore Global Management LP acquired a new stake in Antero Resources Corporation (NYSE:AR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,000 shares of the oil and natural gas company's stock, valued at approximately $1,230,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AR. Eastern Bank purchased a new stake in shares of Antero Resources in the 2nd quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Antero Resources during the second quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Antero Resources during the third quarter valued at about $30,000. IFP Advisors Inc raised its stake in 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 worth $31,000 after buying an additional 345 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Antero Resources in the fourth quarter worth about $41,000. 83.04% of the stock is owned by institutional investors.

Antero Resources Stock Performance

Shares of NYSE AR opened at $38.04 on Friday. The firm's 50-day moving average price is $35.08 and its 200-day moving average price is $36.71. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The company has a market cap of $11.70 billion, a PE ratio of 10.93 and a beta of 0.34. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Antero Resources from $49.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings upgraded Antero Resources from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Truist Financial lowered their price objective on Antero Resources from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Texas Capital raised Antero Resources to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Barclays dropped their target price on shares of Antero Resources from $46.00 to $45.00 and set an "equal weight" rating on the stock in a report on Monday, August 17th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.31.

About Antero Resources

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.

Want to see what other hedge funds are holding AR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Resources Corporation (NYSE:AR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source