Bank of New York Mellon Corp Trims Stock Holdings in Antero Resources Corporation (NYSE:AR)

Bank of New York Mellon Corp trimmed its position in Antero Resources Corporation (NYSE:AR - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,062,407 shares of the oil and natural gas company's stock after selling 2,584,194 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.31% of Antero Resources worth $164,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AR. Wellington Management Group LLP lifted its stake in Antero Resources by 12.6% in the fourth quarter. Wellington Management Group LLP now owns 19,661,491 shares of the oil and natural gas company's stock valued at $689,135,000 after acquiring an additional 2,201,429 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Antero Resources by 133.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,743,957 shares of the oil and natural gas company's stock worth $151,406,000 after buying an additional 2,137,538 shares in the last quarter. Castle Hook Partners LP acquired a new position in Antero Resources during the 4th quarter worth about $60,980,000. Dimensional Fund Advisors LP lifted its position in Antero Resources by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,829,263 shares of the oil and natural gas company's stock valued at $414,628,000 after purchasing an additional 1,274,760 shares during the period. Finally, Webs Creek Capital Management LP acquired a new stake in shares of Antero Resources in the 4th quarter valued at approximately $44,525,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Antero Resources Stock Down 2.1%

Shares of NYSE AR traded down $0.78 during midday trading on Wednesday, hitting $35.85. 706,891 shares of the stock traded hands, compared to its average volume of 4,344,208. The business has a 50 day moving average price of $39.11 and a two-hundred day moving average price of $37.81. Antero Resources Corporation has a one year low of $24.53 and a one year high of $44.02. The company has a market cap of $11.13 billion, a PE ratio of 41.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.39 and a current ratio of 0.39.

Antero Resources (NYSE:AR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and natural gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.10. Antero Resources had a return on equity of 4.01% and a net margin of 5.96%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.12 EPS. The firm's quarterly revenue was up 20.5% on a year-over-year basis. On average, equities analysts predict that Antero Resources Corporation will post 2.74 EPS for the current year.

Insider Activity

In other news, insider Yvette K. Schultz sold 25,200 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $39.86, for a total transaction of $1,004,472.00. Following the transaction, the insider directly owned 306,819 shares in the company, valued at approximately $12,229,805.34. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Howard Keenan, Jr. sold 38,013 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.32, for a total value of $1,532,684.16. Following the transaction, the director owned 364,992 shares in the company, valued at approximately $14,716,477.44. The trade was a 9.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,125,200 shares of company stock worth $45,887,466. Insiders own 6.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $58.00 price target on shares of Antero Resources in a research note on Wednesday, March 26th. UBS Group raised their price target on Antero Resources from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. TD Cowen raised shares of Antero Resources from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $46.00 in a report on Tuesday, April 8th. Barclays raised their price target on Antero Resources from $38.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Antero Resources from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Antero Resources presently has an average rating of "Moderate Buy" and an average target price of $43.50.

Antero Resources Company 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.