Cinctive Capital Management LP Has $11.39 Million Stock Position in Antero Resources Corporation $AR

Key Points

• Cinctive Capital Management LP reduced its stake in Antero Resources by 11.1% in Q3, selling 42,290 shares and retaining 339,316 shares worth about $11.39 million.
• Institutional ownership is high at 83.04%, with large investors like Vanguard (29.8M shares, ~$1.2B), Dimensional, Sourcerock and Invesco significantly increasing their positions.
• Antero beat Q results with $0.62 EPS vs. $0.49 expected and $1.41B revenue (up 20.8% y/y); analysts have a consensus of "Moderate Buy" with an average target of $45.87 and the company carries a market cap of ~$12.65B.

Cinctive Capital Management LP reduced its position in Antero Resources Corporation (NYSE:AR - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,316 shares of the oil and natural gas company's stock after selling 42,290 shares during the period. Cinctive Capital Management LP owned about 0.11% of Antero Resources worth $11,387,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AR. Vanguard Group Inc. lifted its position in shares of Antero Resources by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,797,653 shares of the oil and natural gas company's stock valued at $1,200,249,000 after acquiring an additional 350,018 shares in the last quarter. Sourcerock Group LLC grew its position in Antero Resources by 10.6% during the 2nd quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company's stock worth $328,529,000 after purchasing an additional 783,117 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Antero Resources by 31.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company's stock valued at $267,485,000 after purchasing an additional 1,922,977 shares during the period. Invesco Ltd. raised its stake in Antero Resources by 18.4% during the 2nd quarter. Invesco Ltd. now owns 5,258,305 shares of the oil and natural gas company's stock valued at $211,805,000 after purchasing an additional 817,977 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of Antero Resources by 3.2% in the third quarter. Raymond James Financial Inc. now owns 4,508,542 shares of the oil and natural gas company's stock valued at $151,307,000 after purchasing an additional 140,416 shares in the last quarter. Institutional investors and hedge funds own 83.04% of the company's stock.

Insider Buying and Selling at Antero Resources

In other news, insider Yvette K. Schultz sold 15,000 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 319,122 shares of the company's stock, valued at $12,551,068.26. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Antero Resources in a research report on Monday, December 29th. BMO Capital Markets upped their price target on Antero Resources from $37.00 to $40.00 and gave the company a "market perform" rating in a research report on Tuesday, December 9th. Wall Street Zen downgraded Antero Resources from a "hold" rating to a "sell" rating in a research note on Friday, November 28th. UBS Group raised their price objective on Antero Resources from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, Jefferies Financial Group set a $50.00 target price on Antero Resources in a research note on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $45.87.

Antero Resources Trading Up 1.6%

Antero Resources stock opened at $41.02 on Friday. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $44.01. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. 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's fifty day simple moving average is $34.84 and its 200-day simple moving average is $34.01.

Antero Resources (NYSE:AR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.48 earnings per share. Antero Resources's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, sell-side 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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