Legal & General Group Plc Sells 45,849 Shares of Antero Resources Corporation $AR

Key Points

• Legal & General Group Plc reduced its stake in Antero Resources by 8.0% in the fourth quarter, selling 45,849 shares and leaving it with 525,814 shares valued at about $18.1 million.
• Despite some selling, institutional ownership remains high at 83.04%, and several other investors either added to or initiated positions in the energy company during recent quarters.
• Analyst sentiment is generally positive: Antero Resources has a Moderate Buy consensus rating with an average target price of $50.06, though Zacks Research recently downgraded the stock to Hold.

Legal & General Group Plc lessened its holdings in Antero Resources Corporation (NYSE:AR - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,814 shares of the oil and natural gas company's stock after selling 45,849 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Antero Resources worth $18,120,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Antero Resources in the 3rd quarter valued at approximately $30,000. IFP Advisors Inc increased its position in Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 345 shares during the period. Sound Income Strategies LLC increased its position in Antero Resources by 167.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,824 shares of the oil and natural gas company's stock valued at $59,000 after purchasing an additional 1,143 shares during the period. Clearstead Advisors LLC increased its position in Antero Resources by 100.1% during the 3rd quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company's stock valued at $83,000 after purchasing an additional 1,244 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in Antero Resources during the 4th quarter valued at approximately $99,000. Institutional investors own 83.04% of the company's stock.

Antero Resources Stock Performance

NYSE AR opened at $36.78 on Tuesday. The company has a fifty day simple moving average of $38.66 and a 200 day simple moving average of $36.39. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75. 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 company has a market cap of $11.40 billion, a P/E ratio of 11.94 and a beta of 0.33.

Analyst Ratings Changes

A number of research firms have weighed in on AR. Citigroup increased their target price on shares of Antero Resources from $39.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. Truist Financial began coverage on shares of Antero Resources in a research report on Tuesday, March 24th. They set a "buy" rating and a $56.00 target price for the company. Wells Fargo & Company increased their target price on shares of Antero Resources from $49.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Zacks Research downgraded shares of Antero Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Roth Mkm reiterated a "neutral" rating and issued a $38.00 target price on shares of Antero Resources in a report on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, nine 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 a consensus target price of $50.06.

Insider Activity at Antero Resources

In related news, Director Benjamin A. Hardesty sold 12,000 shares of Antero Resources stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $44.00, for a total value of $528,000.00. Following the completion of the sale, the director owned 150,242 shares of the company's stock, valued at approximately $6,610,648. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider directly owned 277,665 shares of the company's stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 252,316 shares of company stock valued at $9,977,259. 4.10% of the stock is owned by company insiders.

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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