Antero Resources Corporation $AR Position Reduced by LPL Financial LLC

Key Points

• LPL Financial LLC has reduced its position in Antero Resources Corporation by 56.7%, owning 68,232 shares worth approximately $2.76 million at the end of the first quarter.
• Despite the reduction by LPL, a significant 83.04% of Antero Resources stock is held by institutional investors, indicating strong institutional interest in the company.
• In its latest earnings report, Antero Resources missed analysts' EPS estimates, reporting $0.35 versus an expected $0.68, though revenue met the consensus at $1.30 billion.

LPL Financial LLC trimmed its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 56.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,232 shares of the oil and natural gas company's stock after selling 89,269 shares during the quarter. LPL Financial LLC's holdings in Antero Resources were worth $2,759,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new stake in Antero Resources in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in Antero Resources in the 4th quarter valued at about $35,000. Bessemer Group Inc. lifted its position in Antero Resources by 64.7% in the 1st 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. bought a new stake in Antero Resources in the 1st quarter valued at about $44,000. Finally, Sunbelt Securities Inc. bought a new stake in Antero Resources in the 1st quarter valued at about $56,000. 83.04% of the stock is currently owned by institutional investors.

Antero Resources Trading Down 0.9%

Shares of NYSE AR opened at $32.06 on Monday. The business's 50 day moving average is $36.67 and its two-hundred day moving average is $37.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.30 and a quick ratio of 0.30. Antero Resources Corporation has a 1-year low of $24.53 and a 1-year high of $44.01. The stock has a market capitalization of $9.90 billion, a P/E ratio of 20.42 and a beta of 0.64.

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

Analyst Ratings Changes

AR has been the subject of several research reports. UBS Group raised their price target on shares of Antero Resources from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company set a $39.00 price target on shares of Antero Resources and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho upgraded shares of Antero Resources from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $47.00 to $49.00 in a report on Tuesday, May 13th. Raymond James Financial raised their price target on shares of Antero Resources from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Bank of America raised their price target on shares of Antero Resources from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Antero Resources has a consensus rating of "Moderate Buy" and a consensus target price of $43.65.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.