Bank of Nova Scotia Takes $5.68 Million Position in Antero Resources Corporation (NYSE:AR)

Key Points

• The Bank of Nova Scotia has acquired a new stake in Antero Resources Corporation worth approximately $5.68 million, purchasing 140,375 shares in the first quarter.
• Antero Resources reported earnings of $0.35 per share for the last quarter, missing the consensus estimate by ($0.33), but its revenue was up 32.6% compared to the same quarter last year.
• The stock price of Antero Resources is currently down 2.0%, with an average analyst rating of "Moderate Buy" and a target price of $43.53.

Bank of Nova Scotia bought a new stake in Antero Resources Corporation (NYSE:AR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 140,375 shares of the oil and natural gas company's stock, valued at approximately $5,677,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AR. LPL Financial LLC increased its stake in shares of Antero Resources by 486.0% in the fourth quarter. LPL Financial LLC now owns 157,501 shares of the oil and natural gas company's stock valued at $5,520,000 after buying an additional 130,623 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Antero Resources by 55.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,504 shares of the oil and natural gas company's stock valued at $508,000 after acquiring an additional 5,162 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Antero Resources by 25.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,522 shares of the oil and natural gas company's stock valued at $474,000 after acquiring an additional 2,711 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Antero Resources in the fourth quarter valued at about $248,000. Finally, Treasurer of the State of North Carolina boosted its holdings in Antero Resources by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 127,550 shares of the oil and natural gas company's stock valued at $4,471,000 after acquiring an additional 800 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Antero Resources Stock Down 2.0%

Shares of Antero Resources stock opened at $33.01 on Tuesday. Antero Resources Corporation has a 1 year low of $24.53 and a 1 year high of $44.01. The business has a 50-day moving average of $37.70 and a two-hundred day moving average of $37.58. The company has a market capitalization of $10.20 billion, a P/E ratio of 21.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.30 and a quick ratio of 0.30.

Antero Resources (NYSE:AR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.33). Antero Resources had a return on equity of 6.48% and a net margin of 10.13%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned ($0.21) earnings per share. The firm's revenue was up 32.6% compared to the same quarter last year. As a group, equities analysts predict that Antero Resources Corporation will post 2.74 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group raised their price target on Antero Resources from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company set a $39.00 price target on Antero Resources and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley increased their price target on Antero Resources from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday. Raymond James Financial increased their price target on Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Barclays increased their target price on Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.53.

Insider Activity

In other news, Director W Howard Keenan, Jr. sold 1,061,987 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $40.82, for a total transaction of $43,350,309.34. Following the completion of the transaction, the director directly owned 38,013 shares of the company's stock, valued at $1,551,690.66. This represents a 96.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yvette K. Schultz sold 25,200 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $39.86, for a total value of $1,004,472.00. Following the transaction, the insider directly owned 306,819 shares of the company's stock, valued at $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. Insiders have sold 1,125,200 shares of company stock valued at $45,887,466 over the last ninety days. 6.70% of the stock is owned by insiders.

Antero Resources Company 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.

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