Beacon Harbor Wealth Advisors Inc. Purchases New Shares in Antero Resources Corporation (NYSE:AR)

Key Points

• Beacon Harbor Wealth Advisors Inc. has invested approximately $6.76 million in Antero Resources Corporation, acquiring 167,198 shares during the first quarter, which constitutes about 1.6% of its investment portfolio.
• Institutional investors own 83.04% of Antero Resources, with notable firms like Deutsche Bank AG and Charles Schwab Investment Management increasing their positions in the company during the same period.
• Analysts have issued a positive outlook for Antero Resources, with a consensus rating of "Moderate Buy" and an average target price of $43.53, following multiple price upgrades by firms such as Mizuho and Raymond James.

Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 167,198 shares of the oil and natural gas company's stock, valued at approximately $6,761,000. Antero Resources makes up approximately 1.6% of Beacon Harbor Wealth Advisors Inc.'s portfolio, making the stock its 29th largest position. Beacon Harbor Wealth Advisors Inc. owned 0.05% of Antero Resources as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AR. Mascagni Wealth Management Inc. acquired a new stake in Antero Resources in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new stake in Antero Resources in the fourth quarter valued at approximately $35,000. Bessemer Group Inc. increased its holdings in shares of Antero Resources by 64.7% during the 1st quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company's stock valued at $42,000 after acquiring an additional 411 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Antero Resources during the 1st quarter valued at about $44,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Antero Resources during the 1st quarter valued at about $56,000. 83.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director W Howard Keenan, Jr. sold 1,061,987 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.82, for a total value 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 approximately $1,551,690.66. This represents a 96.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Yvette K. Schultz sold 25,200 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 306,819 shares of the company's stock, valued at approximately $12,229,805.34. The trade was a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,125,200 shares of company stock valued at $45,887,466. 6.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AR shares. Wells Fargo & Company set a $39.00 price objective on Antero Resources and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Mizuho raised Antero Resources from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $47.00 to $49.00 in a report on Tuesday, May 13th. Raymond James Financial increased their price objective on Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Scotiabank increased their price objective on Antero Resources from $46.00 to $53.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Finally, UBS Group increased their target price on Antero Resources from $41.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Antero Resources presently has a consensus rating of "Moderate Buy" and an average price target of $43.53.

Antero Resources Stock Performance

Shares of AR stock traded down $0.32 during mid-day trading on Friday, reaching $32.76. The stock had a trading volume of 3,144,183 shares, compared to its average volume of 5,716,578. The firm's 50 day simple moving average is $37.24 and its 200 day simple moving average is $37.42. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.15. Antero Resources Corporation has a one year low of $24.53 and a one year high of $44.01. The firm has a market cap of $10.12 billion, a PE ratio of 20.87 and a beta of 0.64.

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

Antero Resources 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.