Delta Global Management LP Buys Shares of 77,247 Antero Resources Corporation $AR

Key Points

• Delta Global Management LP initiated a new Q3 position in Antero Resources, purchasing 77,247 shares worth about $2.59 million; other institutions also raised stakes, leaving institutional ownership at roughly 83.04%.
• Antero beat expectations on Feb. 11, reporting $0.62 EPS versus $0.49 expected and revenue of $1.41 billion, a 20.8% year-over-year increase.
• Wall Street’s consensus is a "Moderate Buy" with an average price target of $45.87, versus a recent open around $41.02.

Delta Global Management LP purchased a new position in shares of Antero Resources Corporation (NYSE:AR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 77,247 shares of the oil and natural gas company's stock, valued at approximately $2,592,000.

Several other hedge funds also recently made changes to their positions in the business. Capital Impact Advisors LLC lifted its position in shares of Antero Resources by 28.4% in the third quarter. Capital Impact Advisors LLC now owns 242,694 shares of the oil and natural gas company's stock worth $8,145,000 after purchasing an additional 53,610 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Antero Resources by 139.3% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 13,871 shares of the oil and natural gas company's stock valued at $471,000 after purchasing an additional 8,074 shares in the last quarter. Bridgefront Capital LLC increased its stake in Antero Resources by 16.8% in the 3rd quarter. Bridgefront Capital LLC now owns 32,371 shares of the oil and natural gas company's stock valued at $1,086,000 after buying an additional 4,652 shares during the last quarter. California Public Employees Retirement System increased its stake in Antero Resources by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 516,137 shares of the oil and natural gas company's stock valued at $17,322,000 after buying an additional 4,965 shares during the last quarter. Finally, Algert Global LLC lifted its position in Antero Resources by 18.8% during the 3rd quarter. Algert Global LLC now owns 539,185 shares of the oil and natural gas company's stock worth $18,095,000 after buying an additional 85,171 shares in the last quarter. 83.04% of the stock is owned by institutional investors.

Antero Resources Stock Performance

Shares of AR opened at $41.02 on Monday. The company has a market cap of $12.65 billion, a PE ratio of 20.30 and a beta of 0.52. The firm has a 50-day moving average of $34.84 and a 200-day moving average of $34.03. Antero Resources Corporation has a one year low of $29.10 and a one year high of $44.01. 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 (NYSE:AR - Get Free Report) last issued its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.13. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the firm earned $0.48 EPS. Antero Resources's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts forecast that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Antero Resources from a "hold" rating to a "sell" rating in a research note on Friday, November 28th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $39.00 target price (down from $44.00) on shares of Antero Resources in a research report on Monday, December 8th. Barclays dropped their target price on Antero Resources from $46.00 to $41.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 21st. Bank of America increased their price target on Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group set a $50.00 price target on Antero Resources in a research note on Friday, February 13th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.87.

Insider Transactions at Antero Resources

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the company'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 value of $589,950.00. Following the sale, the insider owned 319,122 shares in the company, valued at $12,551,068.26. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by corporate insiders.

About Antero Resources

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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