Antero Resources Corporation $AR Shares Acquired by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management increased its stake in Antero Resources by 77.8% in the fourth quarter, buying 94,260 more shares and bringing its total holdings to 215,470 shares worth about $7.4 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 83.04% of Antero Resources shares. Several large investors, including State Street, Dimensional Fund Advisors, and Massachusetts Financial Services, also increased their positions.
• Wall Street sentiment is broadly positive, with analysts assigning the stock a consensus rating of “Moderate Buy” and an average price target of $50.06, though Weiss Ratings recently downgraded the stock to hold.

Brandywine Global Investment Management LLC grew its position in Antero Resources Corporation (NYSE:AR - Free Report) by 77.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,470 shares of the oil and natural gas company's stock after purchasing an additional 94,260 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.07% of Antero Resources worth $7,425,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of Antero Resources by 1.2% in the third quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company's stock valued at $341,368,000 after purchasing an additional 116,461 shares during the period. Sourcerock Group LLC boosted its stake in shares of Antero Resources by 10.6% in the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company's stock worth $328,529,000 after buying an additional 783,117 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Antero Resources by 31.8% in the third quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company's stock worth $267,485,000 after buying an additional 1,922,977 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Antero Resources by 3.2% in the third quarter. Raymond James Financial Inc. now owns 4,508,542 shares of the oil and natural gas company's stock worth $151,307,000 after buying an additional 140,416 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Antero Resources by 111.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,988,300 shares of the oil and natural gas company's stock worth $137,437,000 after buying an additional 2,099,755 shares during the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AR has been the topic of a number of recent research reports. Weiss Ratings downgraded Antero Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Truist Financial initiated coverage on Antero Resources in a research note on Tuesday, March 24th. They issued a "buy" rating and a $56.00 target price on the stock. Benchmark upgraded Antero Resources from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a research note on Thursday, March 5th. Jefferies Financial Group restated a "buy" rating and issued a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Finally, Mizuho upped their target price on Antero Resources from $50.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.06.

Antero Resources Stock Performance

Shares of AR stock opened at $34.62 on Wednesday. The company has a market capitalization of $10.73 billion, a P/E ratio of 11.24 and a beta of 0.33. The business's 50 day moving average is $37.71 and its two-hundred day moving average is $36.45. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75.

Insiders Place Their Bets

In other Antero Resources news, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the transaction, the insider owned 277,665 shares in the company, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin A. Hardesty sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total value of $528,000.00. Following the transaction, the director owned 150,242 shares in the company, valued at $6,610,648. This represents a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 237,316 shares of company stock worth $9,387,309. 4.10% of the stock is owned by corporate insiders.

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.

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