Brevan Howard Capital Management LP Reduces Stock Position in Antero Resources Corporation $AR

Key Points

• Brevan Howard trimmed its stake in Antero Resources by 39.6%, selling 82,908 shares and finishing the quarter with 126,334 shares valued at roughly $4.24 million.
• Antero beat quarterly expectations, reporting EPS of $0.62 versus a $0.49 estimate and revenue of $1.41 billion (up 20.8% year-over-year), while analysts maintain a consensus "Moderate Buy" with an average price target of $45.87.
• Insider and institutional activity: insider Yvette K. Schultz sold 15,000 shares (a 4.49% reduction in her position); insiders own 6.30% of the stock and institutional investors hold about 83.04%.

Brevan Howard Capital Management LP trimmed its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 39.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,334 shares of the oil and natural gas company's stock after selling 82,908 shares during the period. Brevan Howard Capital Management LP's holdings in Antero Resources were worth $4,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in Antero Resources in the third quarter worth approximately $26,000. Newbridge Financial Services Group Inc. raised its stake in Antero Resources by 114.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 938 shares of the oil and natural gas company's stock valued at $38,000 after buying an additional 500 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Antero Resources by 100.1% during the 3rd quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company's stock valued at $83,000 after buying an additional 1,244 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Antero Resources by 701.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company's stock worth $120,000 after buying an additional 2,616 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Antero Resources by 447.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,427 shares of the oil and natural gas company's stock worth $141,000 after buying an additional 2,801 shares during the last quarter. Institutional investors own 83.04% of the company's stock.

Antero Resources Price Performance

Shares of Antero Resources stock opened at $41.02 on Monday. The stock has a market cap of $12.65 billion, a P/E ratio of 20.30 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock's fifty day moving average is $34.84 and its 200 day moving average is $34.03. Antero Resources Corporation has a one year low of $29.10 and a one year high of $44.01.

Antero Resources (NYSE:AR - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.13. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. Antero Resources's revenue for the quarter was up 20.8% on a year-over-year basis. Sell-side analysts anticipate that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Insider Activity

In related news, insider Yvette K. Schultz sold 15,000 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.33, for a total transaction of $589,950.00. Following the completion of the transaction, the insider directly owned 319,122 shares in the company, valued at approximately $12,551,068.26. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AR. BMO Capital Markets lifted their price objective on Antero Resources from $37.00 to $40.00 and gave the stock a "market perform" rating in a report on Tuesday, December 9th. Wells Fargo & Company raised their target price on Antero Resources from $49.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Morgan Stanley cut their price target on Antero Resources from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, January 23rd. Barclays reduced their price target on shares of Antero Resources from $46.00 to $41.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 21st. Finally, TD Cowen upgraded shares of Antero Resources to a "strong-buy" rating in a research note on Monday, February 9th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.87.

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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