Bank of America Corp DE Grows Holdings in Antero Resources Corporation $AR

Key Points

• Bank of America increased its Antero Resources stake by 31.3% in the first quarter, adding 239,291 shares to hold 1,002,942 shares worth approximately $42.6 million.
• Several other institutional investors also expanded their positions, and hedge funds and institutions collectively own 83.04% of Antero Resources.
• Antero Resources trades at $37.45, while analysts maintain a “Moderate Buy” consensus with an average price target of $48.31, implying potential upside.

Bank of America Corp DE increased its stake in Antero Resources Corporation (NYSE:AR - Free Report) by 31.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,002,942 shares of the oil and natural gas company's stock after buying an additional 239,291 shares during the period. Bank of America Corp DE owned about 0.32% of Antero Resources worth $42,565,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Antero Resources by 177.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company's stock worth $153,261,000 after purchasing an additional 2,309,388 shares during the last quarter. AQR Capital Management LLC increased its holdings in Antero Resources by 140.2% in the third quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company's stock valued at $116,371,000 after buying an additional 2,023,828 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Antero Resources in the fourth quarter valued at about $58,831,000. Aventail Capital Group LP raised its stake in Antero Resources by 553.6% during the fourth quarter. Aventail Capital Group LP now owns 1,713,233 shares of the oil and natural gas company's stock valued at $59,038,000 after buying an additional 1,451,091 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Antero Resources by 676.5% during the 3rd quarter. Marshall Wace LLP now owns 1,632,627 shares of the oil and natural gas company's stock worth $54,791,000 after buying an additional 1,422,377 shares during the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Price Performance

Shares of NYSE AR opened at $37.45 on Thursday. 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 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The business's fifty day moving average price is $34.81 and its two-hundred day moving average price is $36.62. The firm has a market capitalization of $11.51 billion, a PE ratio of 10.76 and a beta of 0.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AR shares. Jefferies Financial Group reiterated a "buy" rating and issued a $57.00 price target on shares of Antero Resources in a report on Friday, May 1st. Truist Financial dropped their target price on shares of Antero Resources from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Bank of America lifted their price target on shares of Antero Resources from $39.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Wolfe Research reaffirmed an "outperform" rating and set a $48.00 price objective on shares of Antero Resources in a research report on Thursday, July 30th. Finally, Texas Capital upgraded shares of Antero Resources to a "strong-buy" rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.31.

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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