Bank of New York Mellon Corp Acquires 377,010 Shares of Antero Resources Corporation $AR

Key Points

• Bank of New York Mellon increased its stake in Antero Resources by 12.2% in Q1, buying 377,010 additional shares and bringing its total holding to 3.48 million shares worth about $147.6 million.
• Several other institutional investors also raised their positions, and institutional ownership now stands at 83.04% of the company’s shares.
• Insider selling was notable: Michael N. Kennedy and Yvette K. Schultz sold shares in May, while analysts currently rate the stock Moderate Buy with a consensus price target of $49.12.

Bank of New York Mellon Corp boosted its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,478,218 shares of the oil and natural gas company's stock after purchasing an additional 377,010 shares during the period. Bank of New York Mellon Corp owned about 1.12% of Antero Resources worth $147,616,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AR. NewEdge Advisors LLC raised its position in shares of Antero Resources by 16,498.3% during the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company's stock valued at $389,000 after purchasing an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Antero Resources by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company's stock valued at $23,882,000 after acquiring an additional 43,312 shares during the period. Focus Partners Wealth raised its holdings in Antero Resources by 18.9% during the first quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company's stock valued at $806,000 after acquiring an additional 3,169 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Antero Resources by 701.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company's stock valued at $120,000 after acquiring an additional 2,616 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Antero Resources by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company's stock valued at $1,470,000 after acquiring an additional 6,700 shares in the last quarter. Institutional investors own 83.04% of the company's stock.

Insider Activity at Antero Resources

In related news, 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 transaction, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider directly owned 277,665 shares in the company, valued at $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

AR has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Antero Resources from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 8th. Bank of America lifted their price objective on shares of Antero Resources from $39.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Barclays boosted their target price on shares of Antero Resources from $43.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 24th. UBS Group dropped their target price on shares of Antero Resources from $56.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.12.

Antero Resources Trading Down 0.1%

Shares of NYSE AR opened at $33.54 on Monday. The business's 50 day moving average is $35.36 and its two-hundred day moving average is $36.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The stock has a market capitalization of $10.39 billion, a P/E ratio of 10.89 and a beta of 0.33.

Antero Resources Profile

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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