Engine NO. 1 LLC Invests $5.58 Million in Antero Resources Corporation $AR

Key Points

• Engine NO. 1 LLC purchased 138,000 shares of Antero Resources Corporation valued at approximately $5.58 million, making it the firm's third largest investment at 7.1% of its portfolio.
• Several institutional investors, including Assenagon Asset Management and Invesco Ltd., have significantly increased their stakes in Antero Resources, reflecting strong interest in the company.
• Antero Resources reported earnings of $0.35 EPS for the last quarter, missing analyst estimates, with a revenue of $1.30 billion, which matched expectations but highlighted potential weaknesses in performance.

Engine NO. 1 LLC purchased a new stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,000 shares of the oil and natural gas company's stock, valued at approximately $5,581,000. Antero Resources accounts for approximately 7.1% of Engine NO. 1 LLC's portfolio, making the stock its 3rd largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Driehaus Capital Management LLC boosted its holdings in Antero Resources by 18.1% during the first quarter. Driehaus Capital Management LLC now owns 1,010,947 shares of the oil and natural gas company's stock valued at $40,883,000 after acquiring an additional 154,942 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Antero Resources during the first quarter valued at about $1,375,000. Trexquant Investment LP acquired a new position in shares of Antero Resources during the first quarter valued at about $21,844,000. Ieq Capital LLC raised its position in shares of Antero Resources by 133.5% during the first quarter. Ieq Capital LLC now owns 82,607 shares of the oil and natural gas company's stock valued at $3,341,000 after buying an additional 47,230 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Antero Resources during the first quarter valued at about $1,039,000. 83.04% of the stock is currently owned by institutional investors.

Antero Resources Price Performance

Antero Resources stock traded down $0.66 during trading hours on Wednesday, hitting $31.79. 4,126,923 shares of the stock were exchanged, compared to its average volume of 5,041,961. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $9.82 billion, a P/E ratio of 20.25 and a beta of 0.64. Antero Resources Corporation has a 12 month low of $24.53 and a 12 month high of $44.01. The business's 50-day moving average is $34.19 and its two-hundred day moving average is $36.54.

Antero Resources (NYSE:AR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.33). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. Antero Resources had a return on equity of 6.48% and a net margin of 10.13%.Antero Resources's quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. Equities research analysts expect that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

AR has been the subject of a number of research analyst reports. Raymond James Financial upped their price objective on shares of Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Roth Capital lowered shares of Antero Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $44.00 to $32.00 in a research report on Monday, August 18th. Bank of America upped their price objective on shares of Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Barclays upped their target price on shares of Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, UBS Group raised shares of Antero Resources from a "neutral" rating to a "buy" rating and set a $43.00 target price on the stock in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.65.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.