Alden Global Capital LLC Takes Position in Antero Resources Corporation $AR

Key Points

• Alden Global Capital LLC acquired 78,865 shares of Antero Resources Corporation, valued at approximately $3.19 million, making it the fund's 12th largest holding at about 3.4% of its portfolio.
• Shares of Antero Resources recently saw a boost in target prices from several analysts, with Bank of America raising its target from $44 to $47, indicating strong buy interest.
• Antero Resources reported earnings of $0.35 per share in its last quarter, missing analysts' expectations of $0.68, yet revenue increased significantly by 32.6% compared to the same quarter last year.

Alden Global Capital LLC acquired a new stake in Antero Resources Corporation (NYSE:AR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 78,865 shares of the oil and natural gas company's stock, valued at approximately $3,189,000. Antero Resources comprises 3.4% of Alden Global Capital LLC's holdings, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 4D Advisors LLC purchased a new stake in Antero Resources in the first quarter valued at approximately $3,033,000. Adage Capital Partners GP L.L.C. lifted its stake in Antero Resources by 210.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,274,532 shares of the oil and natural gas company's stock valued at $51,542,000 after buying an additional 863,836 shares during the last quarter. PDT Partners LLC lifted its stake in Antero Resources by 18.6% in the first quarter. PDT Partners LLC now owns 217,284 shares of the oil and natural gas company's stock valued at $8,787,000 after buying an additional 34,100 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Antero Resources by 77.6% in the first quarter. Maverick Capital Ltd. now owns 18,278 shares of the oil and natural gas company's stock valued at $739,000 after buying an additional 7,984 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Antero Resources in the first quarter valued at approximately $402,000. Hedge funds and other institutional investors own 83.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America upped their price target on Antero Resources from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley upped their price target on Antero Resources from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Scotiabank restated an "outperform" rating on shares of Antero Resources in a research note on Wednesday, August 13th. UBS Group upgraded Antero Resources from a "neutral" rating to a "buy" rating and set a $43.00 price target for the company in a research note on Wednesday, August 20th. Finally, Mizuho upgraded Antero Resources from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $47.00 to $49.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.65.

Antero Resources Price Performance

AR stock traded up $0.08 on Friday, reaching $32.56. 6,478,665 shares of the company's stock were exchanged, compared to its average volume of 4,397,951. The stock has a fifty day moving average of $33.67 and a 200-day moving average of $36.40. Antero Resources Corporation has a twelve month low of $24.53 and a twelve month high of $44.01. The firm has a market cap of $10.06 billion, a PE ratio of 20.74 and a beta of 0.63. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.15.

Antero Resources (NYSE:AR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.33). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, equities analysts predict 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.