HITE Hedge Asset Management LLC Has $51.82 Million Stock Position in Antero Resources Corporation $AR

Key Points

• HITE Hedge Asset Management LLC increased its stake in Antero Resources Corporation by 25.3% during the first quarter, making it their 6th largest position with approximately $51.8 million in holdings.
• Antero Resources reported a missed EPS of $0.35 compared to analysts' expectations of $0.68 for the most recent quarter, although its revenue of $1.30 billion matched estimates.
• Analysts have varying ratings for Antero Resources, with a consensus rating of "Moderate Buy" and an average price target of $43.00 per share.

HITE Hedge Asset Management LLC raised its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,281,308 shares of the oil and natural gas company's stock after purchasing an additional 259,067 shares during the period. Antero Resources accounts for 3.2% of HITE Hedge Asset Management LLC's portfolio, making the stock its 6th largest holding. HITE Hedge Asset Management LLC owned 0.41% of Antero Resources worth $51,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in Antero Resources during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new position in Antero Resources during the fourth quarter valued at approximately $35,000. Bessemer Group Inc. grew its holdings 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 valued at $42,000 after purchasing an additional 411 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Antero Resources during the first quarter valued at approximately $44,000. Finally, Sunbelt Securities Inc. acquired a new position in Antero Resources during the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Roth Capital downgraded Antero Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $44.00 to $32.00 in a report on Monday. Barclays raised their price objective on shares of Antero Resources from $38.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Wells Fargo & Company set a $39.00 price objective on shares of Antero Resources and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Raymond James Financial raised their price objective on shares of Antero Resources from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley raised their price objective on shares of Antero Resources from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.00.

Antero Resources Stock Performance

AR stock traded up $0.1050 during midday trading on Friday, hitting $30.8050. The stock had a trading volume of 4,678,872 shares, compared to its average volume of 5,098,587. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 19.62 and a beta of 0.64. Antero Resources Corporation has a 52 week low of $24.53 and a 52 week high of $44.01. The stock has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $36.98. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15.

Antero Resources (NYSE:AR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 EPS 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 the consensus estimate of $1.30 billion. Antero Resources had a return on equity of 6.48% and a net margin of 10.13%.The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Antero Resources 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.