Antero Resources Corporation $AR Shares Sold by Palo Duro Investment Partners LP

Key Points

• Palo Duro Investment Partners LP recently reduced its stake in Antero Resources Corporation by 15.5%, making it the fund's second largest position at approximately 24.2% of its holdings.
• Antero Resources reported a Q2 EPS of $0.35, missing analysts' expectations of $0.68, despite achieving revenue of $1.30 billion.
• Recent analyst reports have resulted in varying price targets for Antero Resources, with UBS raising its target to $43.00 and Bank of America upgrading it to $47.00.

Palo Duro Investment Partners LP cut its stake in Antero Resources Corporation (NYSE:AR - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,982,756 shares of the oil and natural gas company's stock after selling 364,648 shares during the period. Antero Resources makes up approximately 24.2% of Palo Duro Investment Partners LP's holdings, making the stock its 2nd largest holding. Palo Duro Investment Partners LP owned about 0.64% of Antero Resources worth $80,183,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AR. SVB Wealth LLC acquired a new stake in shares of Antero Resources in the 1st quarter worth approximately $26,000. Mascagni Wealth Management Inc. purchased a new stake in Antero Resources during the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new stake in Antero Resources in the fourth quarter valued at $35,000. Bessemer Group Inc. increased its position in shares of Antero Resources by 64.7% in 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 buying an additional 411 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Antero Resources in the first quarter valued at $44,000. Hedge funds and other institutional investors own 83.04% of the company's stock.

Antero Resources Price Performance

Shares of NYSE:AR remained flat at $32.85 during midday trading on Thursday. The stock had a trading volume of 2,848,187 shares, compared to its average volume of 5,043,313. The company's 50-day moving average is $33.30 and its 200 day moving average is $36.26. Antero Resources Corporation has a twelve month low of $25.36 and a twelve month high of $44.01. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 20.92 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.30 and a current ratio of 0.30.

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

Wall Street Analysts Forecast Growth

AR has been the topic of a number of research reports. Barclays increased their price objective on shares of Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Bank of America increased their price target on shares of Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wells Fargo & Company set a $39.00 price objective on Antero Resources and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Raymond James Financial upped their target price on Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, UBS Group raised Antero Resources from a "neutral" rating to a "buy" rating and set a $43.00 target price on the stock in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.06.

About Antero Resources

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.