Driehaus Capital Management LLC Purchases 154,942 Shares of Antero Resources Corporation $AR

Key Points

• Driehaus Capital Management LLC increased its stake in Antero Resources Corporation by 18.1% in the first quarter, owning approximately 1,010,947 shares valued at $40.88 million.
• Antero Resources reported a missed earnings forecast for the last quarter, with earnings per share at $0.35, below the consensus estimate of $0.68, despite achieving a revenue of $1.30 billion.
• Analysts have varied ratings on Antero Resources, with a consensus rating of "Moderate Buy" and a price target averaging around $43.65, following several upward adjustments from firms like UBS and Mizuho.

Driehaus Capital Management LLC increased its position in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 18.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,010,947 shares of the oil and natural gas company's stock after acquiring an additional 154,942 shares during the quarter. Driehaus Capital Management LLC owned about 0.33% of Antero Resources worth $40,883,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Antero Resources during the first quarter valued at $6,761,000. CWM LLC lifted its stake in shares of Antero Resources by 109.6% during the first quarter. CWM LLC now owns 32,725 shares of the oil and natural gas company's stock valued at $1,323,000 after acquiring an additional 17,113 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Antero Resources by 14.3% during the first quarter. PNC Financial Services Group Inc. now owns 11,670 shares of the oil and natural gas company's stock valued at $472,000 after acquiring an additional 1,461 shares during the period. Bessemer Group Inc. lifted its stake in 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Antero Resources in the first quarter valued at about $538,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Antero Resources Stock Down 1.8%

Shares of NYSE AR traded down $0.60 during mid-day trading on Wednesday, reaching $31.86. 1,456,746 shares of the company's stock were exchanged, compared to its average volume of 5,035,900. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 20.28 and a beta of 0.64. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $34.19 and a 200 day simple moving average of $36.54. Antero Resources Corporation has a twelve month low of $24.53 and a twelve month high of $44.01.

Antero Resources (NYSE:AR - Get Free Report) last released its quarterly 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 analyst estimates of $1.30 billion. Antero Resources had a return on equity of 6.48% and a net margin of 10.13%.The company's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) EPS. As a group, equities analysts expect that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on AR. Morgan Stanley increased their target price on Antero Resources from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Barclays increased their target price on Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Scotiabank reissued an "outperform" rating on shares of Antero Resources in a research note on Wednesday, August 13th. 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. Finally, Wells Fargo & Company set a $39.00 target price on Antero Resources and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.65.

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.