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

Key Points

• Assenagon Asset Management cut its Antero Resources stake by 64.1% in the second quarter, selling 2.32 million shares and retaining 1.30 million shares valued at approximately $45.5 million.
• Institutional investors and hedge funds own 83.04% of Antero Resources, while several other firms initiated or increased positions during recent quarters.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $48.53, compared with the stock’s recent opening price of $34.72.

Assenagon Asset Management S.A. cut its holdings in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 64.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,295,585 shares of the oil and natural gas company's stock after selling 2,315,663 shares during the quarter. Assenagon Asset Management S.A. owned 0.42% of Antero Resources worth $45,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Eastern Bank acquired a new position in Antero Resources during the second quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in Antero Resources during the third quarter worth about $30,000. IFP Advisors Inc raised its position in Antero Resources by 59.2% during the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 345 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Antero Resources in the fourth quarter valued at approximately $41,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Antero Resources in the 4th quarter worth approximately $44,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Texas Capital raised shares of Antero Resources to a "strong-buy" rating in a research note on Thursday, June 25th. Morgan Stanley decreased their price objective on shares of Antero Resources from $56.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Roth Capital reissued a "neutral" rating and set a $38.00 target price on shares of Antero Resources in a research note on Thursday, April 30th. Barclays raised their target price on Antero Resources from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Finally, Mizuho lifted their price target on Antero Resources from $54.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.53.

Antero Resources Price Performance

Shares of Antero Resources stock opened at $34.72 on Friday. The stock has a market capitalization of $10.67 billion, a P/E ratio of 9.98 and a beta of 0.34. The business has a 50 day simple moving average of $34.76 and a two-hundred day simple moving average of $36.51. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40.

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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