Hatch Cove Capital LLC Invests $8.75 Million in Antero Resources Corporation $AR

Key Points

• Hatch Cove Capital initiated an $8.75 million position in Antero Resources during the second quarter, purchasing 249,000 shares. The stake represented about 3.9% of the firm’s portfolio and 0.08% of Antero’s outstanding shares.
• Institutional ownership remains high at 83.04%, with several other investors increasing their positions or initiating new stakes during the quarter.
• Analysts maintain a generally positive outlook, giving Antero Resources a consensus “Moderate Buy” rating and an average price target of $48.31 versus the stock’s reported $37.45 opening price.

Hatch Cove Capital LLC bought a new stake in Antero Resources Corporation (NYSE:AR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 249,000 shares of the oil and natural gas company's stock, valued at approximately $8,750,000. Antero Resources makes up approximately 3.9% of Hatch Cove Capital LLC's holdings, making the stock its 14th biggest holding. Hatch Cove Capital LLC owned approximately 0.08% of Antero Resources at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Viking Fund Management LLC lifted its position in Antero Resources by 16.7% during the 2nd quarter. Viking Fund Management LLC now owns 140,000 shares of the oil and natural gas company's stock worth $4,920,000 after buying an additional 20,000 shares in the last quarter. Fiduciary Financial Group LLC acquired a new stake in Antero Resources in the 2nd quarter valued at about $339,000. Gradient Investments LLC increased its position in Antero Resources by 110.2% in the 2nd quarter. Gradient Investments LLC now owns 37,897 shares of the oil and natural gas company's stock valued at $1,332,000 after acquiring an additional 19,870 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Antero Resources in the second quarter worth about $87,000. Finally, GAMMA Investing LLC raised its stake in shares of Antero Resources by 6.0% in the second quarter. GAMMA Investing LLC now owns 8,556 shares of the oil and natural gas company's stock worth $301,000 after acquiring an additional 481 shares during the last quarter. 83.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Antero Resources from $52.00 to $57.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Citigroup dropped their price objective on shares of Antero Resources from $53.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Benchmark increased their price objective on Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Wednesday. Roth Capital reissued a "neutral" rating and issued a $38.00 target price on shares of Antero Resources in a research note on Thursday, April 30th. Finally, Wolfe Research restated an "outperform" rating and set a $48.00 target price on shares of Antero Resources in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Antero Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.31.

Antero Resources Price Performance

Shares of AR stock opened at $37.45 on Thursday. The firm's 50 day moving average price is $34.81 and its two-hundred day moving average price is $36.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The stock has a market cap of $11.51 billion, a PE ratio of 10.76 and a beta of 0.34.

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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