Magnetar Financial LLC Decreases Holdings in Antero Resources Corporation $AR

Key Points

• Magnetar Financial cut its stake in Antero Resources by 50.7% in Q3, selling 107,653 shares and leaving it with 104,697 shares worth about $3.51 million.
• Several large institutions moved in the opposite direction—Dimensional Fund Advisors increased its holding 31.8% to 7.97 million shares, Jupiter initiated a ~$52.7 million stake, and institutional owners now hold 83.04% of the stock.
• Antero beat recent quarterly estimates (EPS $0.62 vs. $0.49; revenue $1.41B vs. $1.33B) and carries a MarketBeat consensus of "Moderate Buy" with an average price target of $45.87.

Magnetar Financial LLC decreased its position in Antero Resources Corporation (NYSE:AR - Free Report) by 50.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,697 shares of the oil and natural gas company's stock after selling 107,653 shares during the quarter. Magnetar Financial LLC's holdings in Antero Resources were worth $3,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Antero Resources by 31.8% during the third quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company's stock worth $267,485,000 after acquiring an additional 1,922,977 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Antero Resources in the 3rd quarter valued at $52,737,000. Ninepoint Partners LP boosted its stake in shares of Antero Resources by 60.7% in the 3rd quarter. Ninepoint Partners LP now owns 2,250,000 shares of the oil and natural gas company's stock valued at $75,510,000 after purchasing an additional 850,000 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Antero Resources by 18.4% during the 2nd quarter. Invesco Ltd. now owns 5,258,305 shares of the oil and natural gas company's stock valued at $211,805,000 after purchasing an additional 817,977 shares during the last quarter. Finally, Sourcerock Group LLC grew its holdings in shares of Antero Resources by 10.6% during the 2nd quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company's stock valued at $328,529,000 after purchasing an additional 783,117 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company's stock.

Antero Resources Price Performance

AR stock opened at $39.68 on Thursday. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 19.64 and a beta of 0.52. The firm's 50-day moving average price is $34.59 and its two-hundred day moving average price is $33.87. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $44.01.

Antero Resources (NYSE:AR - Get Free Report) last posted its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.13. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.33 billion. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. Antero Resources's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, equities analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on AR shares. Benchmark raised shares of Antero Resources from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a research note on Thursday, March 5th. Jefferies Financial Group set a $50.00 price objective on Antero Resources in a report on Friday, February 13th. Morgan Stanley dropped their target price on Antero Resources from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, January 23rd. Wells Fargo & Company raised their price target on Antero Resources from $49.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $39.00 price target (down from $44.00) on shares of Antero Resources in a research note on Monday, December 8th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.87.

Insider Buying and Selling

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.33, for a total value of $589,950.00. Following the completion of the sale, the insider owned 319,122 shares in the company, valued at approximately $12,551,068.26. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is owned by insiders.

Antero Resources Company 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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