Crossmark Global Holdings Inc. Increases Stake in Antero Resources Corporation $AR

Key Points

• Crossmark Global Holdings increased its Antero Resources stake by 483.1% in the second quarter, holding 100,813 shares valued at approximately $3.54 million. Institutional investors collectively own 83.04% of AR’s outstanding stock.
• Analyst sentiment remains favorable, with Antero Resources carrying a “Moderate Buy” consensus rating and an average price target of $48.31. Benchmark raised its target to $47, while Jefferies maintained a $57 target and a buy rating.
• AR shares opened at $37.45, compared with a 12-month range of $29.10 to $45.75. The company has an $11.51 billion market capitalization and operates natural gas, NGL and oil assets across roughly 1.8 million net acres in the Appalachian Basin.

Crossmark Global Holdings Inc. boosted its holdings in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 483.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,813 shares of the oil and natural gas company's stock after buying an additional 83,524 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Antero Resources were worth $3,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AR. Assenagon Asset Management S.A. grew its stake in shares of Antero Resources by 177.4% in the first quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company's stock worth $153,261,000 after acquiring an additional 2,309,388 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Antero Resources by 140.2% during the third quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company's stock worth $116,371,000 after acquiring an additional 2,023,828 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Antero Resources in the fourth quarter valued at $58,831,000. Aventail Capital Group LP raised its stake in shares of Antero Resources by 553.6% in the fourth quarter. Aventail Capital Group LP now owns 1,713,233 shares of the oil and natural gas company's stock valued at $59,038,000 after acquiring an additional 1,451,091 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Antero Resources by 676.5% in the third quarter. Marshall Wace LLP now owns 1,632,627 shares of the oil and natural gas company's stock valued at $54,791,000 after acquiring an additional 1,422,377 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AR shares. Zacks Research cut Antero Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Roth Capital reaffirmed a "neutral" rating and issued a $38.00 price target on shares of Antero Resources in a research report on Thursday, April 30th. Weiss Ratings upgraded Antero Resources from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Benchmark lifted their price objective on Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Jefferies Financial Group reissued a "buy" rating and set a $57.00 price objective on shares of Antero Resources in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Antero Resources presently has an average rating of "Moderate Buy" and an average target price of $48.31.

Antero Resources Stock Performance

Shares of AR stock opened at $37.45 on Thursday. 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 firm has a fifty day moving average price of $34.81 and a 200 day moving average price of $36.62. The company has a market cap of $11.51 billion, a P/E ratio of 10.76 and a beta of 0.34. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75.

Antero Resources 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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