L & S Advisors Inc Invests $2.83 Million in Antero Resources Corporation (NYSE:AR)

Key Points

• L & S Advisors Inc has acquired a new stake in Antero Resources Corporation, purchasing 69,924 shares valued at approximately $2.83 million during the first quarter.
• Analysts have set varying price targets for Antero Resources, with Bank of America raising its target from $44.00 to $47.00, while Mizuho increased theirs from $47.00 to $49.00, indicating a generally positive outlook.
• In insider trading activity, Director W Howard Keenan, Jr. sold over 1 million shares for about $43.35 million, representing a significant 96.54% decrease in his position.

L & S Advisors Inc bought a new position in shares of Antero Resources Corporation (NYSE:AR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 69,924 shares of the oil and natural gas company's stock, valued at approximately $2,828,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers grew its stake in Antero Resources by 2.3% in the fourth quarter. Cetera Investment Advisers now owns 14,060 shares of the oil and natural gas company's stock valued at $493,000 after purchasing an additional 319 shares during the last quarter. World Investment Advisors grew its stake in Antero Resources by 5.0% in the first quarter. World Investment Advisors now owns 7,105 shares of the oil and natural gas company's stock valued at $287,000 after purchasing an additional 341 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Antero Resources by 2.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,355 shares of the oil and natural gas company's stock valued at $503,000 after purchasing an additional 370 shares during the last quarter. Bessemer Group Inc. grew its stake in Antero Resources by 64.7% in the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company's stock valued at $42,000 after purchasing an additional 411 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Antero Resources by 7.1% during the first quarter. Ballentine Partners LLC now owns 6,282 shares of the oil and natural gas company's stock worth $254,000 after acquiring an additional 419 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Yvette K. Schultz sold 25,200 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $39.86, for a total value of $1,004,472.00. Following the sale, the insider directly owned 306,819 shares in the company, valued at approximately $12,229,805.34. The trade was a 7.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Howard Keenan, Jr. sold 38,013 shares of Antero Resources stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.32, for a total value of $1,532,684.16. Following the completion of the transaction, the director directly owned 364,992 shares of the company's stock, valued at approximately $14,716,477.44. This represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,125,200 shares of company stock worth $45,887,466. 6.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AR shares. Morgan Stanley boosted their price target on Antero Resources from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America boosted their price target on Antero Resources from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Raymond James Financial boosted their price target on Antero Resources from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. UBS Group lifted their target price on Antero Resources from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, TD Cowen raised Antero Resources from a "hold" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $46.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.53.

Antero Resources Trading Up 0.0%

AR traded up $0.00 on Wednesday, hitting $33.30. The company had a trading volume of 960,046 shares, compared to its average volume of 5,100,077. The firm has a market cap of $10.29 billion, a P/E ratio of 21.24 and a beta of 0.64. Antero Resources Corporation has a 1 year low of $24.53 and a 1 year high of $44.01. The company's fifty day moving average price is $37.57 and its 200 day moving average price is $37.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15.

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 (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.33). The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.30 billion. Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. As a group, equities analysts expect that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Antero Resources Profile

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.