Bank of New York Mellon Corp Sells 2,584,194 Shares of Antero Resources Corporation (NYSE:AR)

Bank of New York Mellon Corp lowered its position in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 38.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 about 1.31% of Antero Resources worth $164,284,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new stake in Antero Resources in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in Antero Resources in the 4th quarter valued at about $35,000. Bessemer Group Inc. increased its position in Antero Resources by 64.7% in the 1st 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 in the last quarter. North Star Investment Management Corp. bought a new stake in Antero Resources in the 1st quarter valued at about $44,000. Finally, Sunbelt Securities Inc. acquired a new position in Antero Resources during the first quarter worth $56,000. Institutional investors own 83.04% of the company's stock.

Insider Buying and Selling at Antero Resources

In other news, Director W Howard Keenan, Jr. sold 38,013 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.32, for a total transaction of $1,532,684.16. Following the sale, the director directly owned 364,992 shares in the company, valued at $14,716,477.44. This represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yvette K. Schultz sold 25,200 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $39.86, for a total value of $1,004,472.00. Following the sale, the insider owned 306,819 shares in the company, valued at approximately $12,229,805.34. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,125,200 shares of company stock worth $45,887,466. Company insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AR shares. Raymond James Financial restated a "strong-buy" rating on shares of Antero Resources in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on Antero Resources from $45.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Scotiabank raised their target price on Antero Resources from $46.00 to $53.00 and gave the company a "sector outperform" rating in a report on Friday. Barclays raised their target price on Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Mizuho upgraded shares of Antero Resources from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $47.00 to $49.00 in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.00.

Antero Resources Stock Performance

Antero Resources stock traded up $0.10 during midday trading on Friday, reaching $35.95. The stock had a trading volume of 5,934,021 shares, compared to its average volume of 4,398,825. Antero Resources Corporation has a 12 month low of $24.53 and a 12 month high of $44.02. The firm's 50-day moving average price is $39.15 and its 200 day moving average price is $37.83. The firm has a market capitalization of $11.16 billion, a PE ratio of 41.80 and a beta of 0.68. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.17.

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

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.