Goodman Financial Corp Sells 129,071 Shares of Antero Resources Corporation $AR

Key Points

• Goodman Financial Corp reduced its stake in Antero Resources by 28.0% in the first quarter, selling 129,071 shares and leaving it with 331,735 shares valued at about $14.1 million.
• Several other institutional investors also adjusted their positions in AR, and institutions now own 83.04% of the company’s stock, highlighting heavy institutional interest.
• Wall Street remains cautiously upbeat on Antero Resources, with a Moderate Buy consensus rating and an average price target of $49.12, while the stock recently traded at $33.36.

Goodman Financial Corp trimmed its position in Antero Resources Corporation (NYSE:AR - Free Report) by 28.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,735 shares of the oil and natural gas company's stock after selling 129,071 shares during the quarter. Antero Resources accounts for 2.4% of Goodman Financial Corp's holdings, making the stock its 19th largest holding. Goodman Financial Corp owned about 0.11% of Antero Resources worth $14,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AR. NewEdge Advisors LLC increased its position in Antero Resources by 16,498.3% during the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company's stock valued at $389,000 after purchasing an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Antero Resources by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company's stock worth $23,882,000 after purchasing an additional 43,312 shares during the period. Focus Partners Wealth lifted its position in shares of Antero Resources by 18.9% in the 1st quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company's stock worth $806,000 after purchasing an additional 3,169 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Antero Resources by 701.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company's stock valued at $120,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Antero Resources by 22.5% during the second quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company's stock valued at $1,470,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors own 83.04% of the company's stock.

Analyst Upgrades and Downgrades

AR has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Antero Resources from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $57.00 target price on shares of Antero Resources in a research report on Friday, May 1st. The Goldman Sachs Group cut their price target on Antero Resources from $46.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Barclays boosted their price target on Antero Resources from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 24th. Finally, Truist Financial dropped their price objective on Antero Resources from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.12.

Antero Resources Stock Performance

Shares of AR opened at $33.36 on Friday. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. The stock has a fifty day moving average price of $35.41 and a 200-day moving average price of $36.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The firm has a market cap of $10.34 billion, a PE ratio of 10.83 and a beta of 0.33.

Insider Activity

In other Antero Resources news, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.33, for a total value of $7,308,536.58. Following the completion of the sale, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the completion of the sale, the insider owned 277,665 shares of the company's stock, valued at approximately $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.10% of the company's stock.

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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