Antero Resources Corporation $AR Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Antero Resources stake by 30.8% in the second quarter, selling 1.47 million shares and retaining 3.30 million shares worth approximately $115.8 million.
• Institutional investors and hedge funds own 83.04% of Antero Resources, while several firms—including Empowered Funds, Jefferies and Ohio’s public employees’ retirement system—opened new positions during the quarter.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $48.71 price target compared with the stock’s reported price of $39.83.

Wellington Management Group LLP decreased its holdings in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 30.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,296,358 shares of the oil and natural gas company's stock after selling 1,468,432 shares during the period. Wellington Management Group LLP owned approximately 1.07% of Antero Resources worth $115,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AR. Beacon Pointe Advisors LLC bought a new stake in shares of Antero Resources in the 2nd quarter worth approximately $461,000. Pin Oak Investment Advisors Inc. bought a new stake in Antero Resources during the second quarter worth approximately $410,000. Empowered Funds LLC bought a new stake in Antero Resources during the second quarter worth approximately $5,225,000. Jefferies Financial Group Inc. acquired a new position in Antero Resources in the second quarter worth approximately $2,416,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Antero Resources during the 2nd quarter valued at $7,573,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Wall Street Analyst Weigh In

AR has been the topic of a number of recent research reports. Truist Financial decreased their target price on Antero Resources from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Raymond James Financial increased their price target on Antero Resources from $50.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday. 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. Morgan Stanley restated an "overweight" rating and set a $49.00 price objective on shares of Antero Resources in a report on Wednesday, August 19th. Finally, UBS Group upped their price objective on shares of Antero Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Antero Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.71.

Antero Resources Price Performance

AR opened at $39.83 on Wednesday. The stock has a fifty day moving average of $35.73 and a 200-day moving average of $36.95. The firm has a market capitalization of $12.25 billion, a P/E ratio of 11.45 and a beta of 0.35. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source