Engineers Gate Manager LP Has $7.66 Million Stock Holdings in Antero Resources Corporation $AR

Key Points

• Engineers Gate Manager LP increased its Antero Resources stake by 158.1% in the second quarter, holding 217,946 shares valued at approximately $7.66 million.
• Institutional ownership remains high at 83.04%, with major investors including BlackRock, California State Teachers Retirement System, Dimensional Fund Advisors, and State Street expanding their positions.
• Analysts have a consensus “Moderate Buy” rating on Antero Resources, with an average price target of $48.72 versus the stock’s reported opening price of $39.14.

Engineers Gate Manager LP boosted its position in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 158.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,946 shares of the oil and natural gas company's stock after acquiring an additional 133,494 shares during the period. Engineers Gate Manager LP owned approximately 0.07% of Antero Resources worth $7,659,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Antero Resources during the 2nd quarter worth approximately $966,982,000. California State Teachers Retirement System raised its stake in shares of Antero Resources by 3,427.9% in the second quarter. California State Teachers Retirement System now owns 11,957,720 shares of the oil and natural gas company's stock valued at $420,194,000 after purchasing an additional 11,618,775 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Antero Resources by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company's stock valued at $434,597,000 after purchasing an additional 1,153,422 shares in the last quarter. State Street Corp lifted its position in Antero Resources by 1.2% in the third quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company's stock worth $341,368,000 after purchasing an additional 116,461 shares during the period. Finally, Sourcerock Group LLC lifted its position in Antero Resources by 10.6% in the second 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 during the period. Institutional investors and hedge funds own 83.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AR shares. Stifel Nicolaus assumed coverage on shares of Antero Resources in a report on Thursday. They issued a "hold" rating and a $42.00 price target on the stock. Weiss Ratings raised shares of Antero Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. The Goldman Sachs Group lifted their target price on shares of Antero Resources from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their price target on shares of Antero Resources from $49.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Finally, Morgan Stanley restated an "overweight" rating and set a $49.00 price target on shares of Antero Resources in a research note on Wednesday, August 19th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.72.

Antero Resources Stock Performance

Antero Resources stock opened at $39.14 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a fifty day moving average price of $36.36 and a two-hundred day moving average price of $37.19. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The firm has a market capitalization of $12.03 billion, a P/E ratio of 11.25 and a beta of 0.35.

Antero Resources Profile

Antero Resources Corporation NYSE: AR is an independent oil and natural gas exploration and production company. Its operations are focused primarily on developing unconventional reserves in the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and oil.

The company's core properties are located in the Marcellus and Utica shale plays of West Virginia and Ohio. Its products include natural gas and NGLs such as ethane, propane, butane and natural gasoline, which are marketed to customers in domestic and international energy markets.

Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.

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