BlackRock Inc. Makes New Investment in Antero Resources Corporation $AR

Key Points

• BlackRock acquired 27.5 million shares of Antero Resources during the second quarter, valued at approximately $967 million, giving it an 8.95% stake.
• Institutional ownership remains high at 83.04%, with several other investment firms—including Bank of New York Mellon and Northwestern Mutual—also increasing their positions.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $48.31, compared with a recent price of $38.04.

BlackRock Inc. bought a new stake in Antero Resources Corporation (NYSE:AR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,517,993 shares of the oil and natural gas company's stock, valued at approximately $966,982,000. BlackRock Inc. owned approximately 8.95% of Antero Resources as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brandywine Global Investment Management LLC lifted its position in shares of Antero Resources by 77.8% during the 4th quarter. Brandywine Global Investment Management LLC now owns 215,470 shares of the oil and natural gas company's stock valued at $7,425,000 after acquiring an additional 94,260 shares during the last quarter. Kailix Advisors LLC grew its holdings in shares of Antero Resources by 15.5% in the 4th quarter. Kailix Advisors LLC now owns 374,484 shares of the oil and natural gas company's stock worth $12,905,000 after acquiring an additional 50,150 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Antero Resources by 10.8% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 659,986 shares of the oil and natural gas company's stock worth $22,743,000 after acquiring an additional 64,378 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Antero Resources by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,101,208 shares of the oil and natural gas company's stock worth $106,868,000 after purchasing an additional 569,817 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Antero Resources by 1,399.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 67,016 shares of the oil and natural gas company's stock valued at $2,309,000 after purchasing an additional 62,547 shares during the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AR shares. Morgan Stanley restated an "overweight" rating and set a $49.00 price objective on shares of Antero Resources in a report on Wednesday. Roth Capital reissued a "neutral" rating and issued a $38.00 target price on shares of Antero Resources in a research report on Thursday, April 30th. Zacks Research downgraded shares of Antero Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. The Goldman Sachs Group reduced their price target on shares of Antero Resources from $46.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Mizuho raised their price objective on shares of Antero Resources from $54.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.31.

Antero Resources Price Performance

NYSE AR opened at $38.04 on Friday. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75. The company has a fifty day simple moving average of $35.08 and a 200 day simple moving average of $36.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29. The company has a market cap of $11.70 billion, a P/E ratio of 10.93 and a beta of 0.34.

Antero Resources Company 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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