Antero Resources Corporation $AR Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Antero Resources stake by 20.3% in the third quarter, adding 262,693 shares to own 1.56 million shares valued at approximately $52 million.
• Several major institutional investors also built or initiated positions, and institutional ownership now stands at 83.04% of Antero Resources’ outstanding stock.
• Analysts maintain a Moderate Buy consensus with an average price target of $48.11, while AR shares recently traded at $38.55, up 5.8% and near their 50- and 200-day moving averages.

Assenagon Asset Management S.A. raised its holdings in Antero Resources Corporation (NYSE:AR - Free Report) by 20.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,558,278 shares of the oil and natural gas company's stock after acquiring an additional 262,693 shares during the quarter. Assenagon Asset Management S.A. owned 0.51% of Antero Resources worth $52,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Antero Resources during the second quarter worth approximately $966,982,000. Dimensional Fund Advisors LP increased its holdings in shares of Antero Resources by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company's stock valued at $434,597,000 after buying an additional 1,153,422 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Antero Resources by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 3,478,218 shares of the oil and natural gas company's stock valued at $147,616,000 after buying an additional 377,010 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Antero Resources in the second quarter valued at $100,212,000. Finally, Palo Duro Investment Partners LP acquired a new stake in shares of Antero Resources during the 2nd quarter valued at $95,985,000. Institutional investors own 83.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AR. Barclays cut their target price on Antero Resources from $46.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Texas Capital upgraded Antero Resources to a "strong-buy" rating in a research report on Thursday, June 25th. Wells Fargo & Company lifted their price target on Antero Resources from $52.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Stifel Nicolaus assumed coverage on Antero Resources in a research note on Thursday, September 10th. They issued a "hold" rating and a $42.00 price target on the stock. Finally, Mizuho cut their price objective on Antero Resources from $57.00 to $51.00 and set an "outperform" rating on the stock in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.11.

Antero Resources Stock Up 5.8%

Shares of Antero Resources stock opened at $38.55 on Friday. The stock has a 50-day moving average price of $36.96 and a 200 day moving average price of $36.50. The company has a market cap of $11.85 billion, a P/E ratio of 11.08 and a beta of 0.54. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75.

About Antero Resources

Antero Resources Corporation NYSE: AR is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company's operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero's asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.

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