Assenagon Asset Management S.A. Boosts Holdings in Antero Resources Corporation $AR

Key Points

• Assenagon Asset Management increased its stake in Antero Resources by 177.4% in Q1, ending with 3.61 million shares valued at about $153.3 million.
• Other institutional investors also boosted their positions, and 83.04% of Antero Resources’ stock is now held by hedge funds and other institutional investors.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $50.19, above the recent trading price around $34.72.

Assenagon Asset Management S.A. grew its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 177.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,611,248 shares of the oil and natural gas company's stock after acquiring an additional 2,309,388 shares during the quarter. Assenagon Asset Management S.A. owned about 1.17% of Antero Resources worth $153,261,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AR. Brandywine Global Investment Management LLC boosted its holdings in Antero Resources by 77.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 215,470 shares of the oil and natural gas company's stock valued at $7,425,000 after acquiring an additional 94,260 shares during the last quarter. WINTON GROUP Ltd increased its stake in Antero Resources by 201.6% during the third quarter. WINTON GROUP Ltd now owns 68,884 shares of the oil and natural gas company's stock worth $2,312,000 after acquiring an additional 46,045 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Antero Resources by 56.9% in the 3rd quarter. Intech Investment Management LLC now owns 406,900 shares of the oil and natural gas company's stock worth $13,656,000 after purchasing an additional 147,571 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Antero Resources by 10.8% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 659,986 shares of the oil and natural gas company's stock worth $22,743,000 after purchasing an additional 64,378 shares during the period. Finally, Lighthouse Investment Partners LLC lifted its stake in shares of Antero Resources by 213.9% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the oil and natural gas company's stock valued at $10,068,000 after purchasing an additional 204,420 shares in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Antero Resources Stock Up 0.6%

Shares of NYSE AR opened at $34.72 on Thursday. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 11.27 and a beta of 0.33. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40. The stock's 50-day simple moving average is $36.41 and its 200-day simple moving average is $36.39.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Antero Resources from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Williams Trading set a $56.00 price target on shares of Antero Resources in a report on Monday, April 20th. Truist Financial initiated coverage on shares of Antero Resources in a research report on Tuesday, March 24th. They set a "buy" rating and a $56.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Antero Resources from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Finally, Barclays raised their target price on shares of Antero Resources from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.19.

Insider Buying and Selling at Antero Resources

In other news, insider Yvette K. Schultz sold 39,490 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the completion of the sale, the insider owned 277,665 shares of the company's stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael N. Kennedy sold 185,826 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the sale, the insider owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company's stock.

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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