Bank of New York Mellon Corp Invests $106.06 Million in Antero Resources Corporation $AR

Bank of New York Mellon Corp purchased a new stake in Antero Resources Corporation (NYSE:AR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,018,296 shares of the oil and natural gas company's stock, valued at approximately $106,063,000. Bank of New York Mellon Corp owned 0.98% of Antero Resources as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AR. Eastern Bank acquired a new position in shares of Antero Resources in the second quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in Antero Resources in the 3rd quarter valued at $30,000. IFP Advisors Inc raised its position in Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Antero Resources in the 4th quarter worth $41,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Antero Resources in the first quarter valued at about $53,000. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $57.00 price target on shares of Antero Resources in a research note on Friday, May 1st. Zacks Research lowered Antero Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. The Goldman Sachs Group cut their target price on Antero Resources from $46.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Texas Capital upgraded Antero Resources to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, UBS Group raised their target price on Antero Resources from $50.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 31st. Three 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, Antero Resources currently has an average rating of "Moderate Buy" and an average target price of $48.31.

Antero Resources Stock Performance

Shares of AR stock opened at $37.89 on Tuesday. The stock has a fifty day moving average price of $35.15 and a 200 day moving average price of $36.76. The stock has a market cap of $11.65 billion, a PE ratio of 10.89 and a beta of 0.34. 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 quick ratio of 0.40 and a current ratio of 0.40.

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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