Chronos Wealth Management LLC Invests $3.30 Million in Antero Resources Corporation $AR

Key Points

• Chronos Wealth Management LLC opened a new position in Antero Resources (NYSE:AR), buying 95,675 shares worth about $3.30 million, roughly 1.5% of Chronos's portfolio and its 23rd-largest holding.
• Major institutional buying continued as Massachusetts Financial Services more than doubled its stake to 3,988,300 shares (an added 2,099,755 shares, valued at ~$137.4 million), and institutions now own about 83% of AR.
• Antero outperformed expectations with Q4 EPS of $0.62 vs. $0.49 expected and revenue of $1.41B (+20.8% YoY); analysts have a "Moderate Buy" consensus with an average target of $47.60 and several buy/strong-buy targets up to $56.

Chronos Wealth Management LLC purchased a new position in shares of Antero Resources Corporation (NYSE:AR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,675 shares of the oil and natural gas company's stock, valued at approximately $3,297,000. Antero Resources makes up about 1.5% of Chronos Wealth Management LLC's investment portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Stanley Laman Group Ltd. boosted its position in shares of Antero Resources by 72.1% during the fourth quarter. Stanley Laman Group Ltd. now owns 135,934 shares of the oil and natural gas company's stock worth $4,684,000 after purchasing an additional 56,936 shares in the last quarter. Choreo LLC boosted its position in shares of Antero Resources by 28.9% during the fourth quarter. Choreo LLC now owns 9,448 shares of the oil and natural gas company's stock worth $332,000 after purchasing an additional 2,121 shares in the last quarter. Ritholtz Wealth Management lifted its position in Antero Resources by 18.7% in the 4th quarter. Ritholtz Wealth Management now owns 9,267 shares of the oil and natural gas company's stock valued at $319,000 after acquiring an additional 1,460 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Antero Resources by 111.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,988,300 shares of the oil and natural gas company's stock valued at $137,437,000 after acquiring an additional 2,099,755 shares in the last quarter. Finally, Accordant Advisory Group Inc lifted its position in Antero Resources by 15.2% in the 4th quarter. Accordant Advisory Group Inc now owns 48,189 shares of the oil and natural gas company's stock valued at $1,661,000 after acquiring an additional 6,363 shares in the last quarter. 83.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group set a $50.00 price objective on shares of Antero Resources in a research report on Friday, February 13th. TD Cowen raised shares of Antero Resources to a "strong-buy" rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Antero Resources in a research report on Monday, December 29th. Citigroup boosted their price objective on shares of Antero Resources from $39.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. Finally, Truist Financial assumed coverage on shares of Antero Resources in a research report on Tuesday, March 24th. They issued a "buy" rating and a $56.00 price objective on the stock. Five investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.60.

Insider Activity

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the sale, the insider directly owned 319,122 shares of the company's stock, valued at $12,551,068.26. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin A. Hardesty sold 12,000 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $44.00, for a total transaction of $528,000.00. Following the transaction, the director owned 150,242 shares in the company, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% of the company's stock.

Antero Resources Trading Up 0.1%

Shares of NYSE:AR opened at $37.92 on Monday. The company's 50-day moving average price is $38.20 and its two-hundred day moving average price is $35.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. Antero Resources Corporation has a one year low of $29.10 and a one year high of $45.75. The stock has a market capitalization of $11.70 billion, a PE ratio of 18.77 and a beta of 0.42.

Antero Resources (NYSE:AR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the firm posted $0.48 EPS. The company's revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities analysts forecast that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

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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