Massachusetts Financial Services Co. MA Acquires 2,099,755 Shares of Antero Resources Corporation $AR

Key Points

• Massachusetts Financial Services more than doubled its stake in Antero Resources in Q4, buying an additional 2,099,755 shares to hold 3,988,300 shares (about 1.29%) valued at roughly $137.4 million.
• Research firms have been raising targets and ratings on AR, leaving an average price target of $47.60 (notable upgrades include Citigroup to $53 and Jefferies at $50), supporting a consensus "Moderate Buy" outlook.
• Company insiders sold shares recently—Director Benjamin Hardesty sold 12,000 shares at $44 and Yvette K. Schultz sold 15,000 shares at $39.33—bringing total insider ownership to about 6.30%.

Massachusetts Financial Services Co. MA raised its holdings in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 111.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,988,300 shares of the oil and natural gas company's stock after purchasing an additional 2,099,755 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.29% of Antero Resources worth $137,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Accordant Advisory Group Inc increased its stake in Antero Resources by 15.2% during the 4th quarter. Accordant Advisory Group Inc now owns 48,189 shares of the oil and natural gas company's stock valued at $1,661,000 after purchasing an additional 6,363 shares in the last quarter. Sound Income Strategies LLC increased its stake 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 in the last quarter. Savvy Advisors Inc. bought a new stake in shares of Antero Resources in the 4th quarter worth $221,000. Stratos Wealth Partners LTD. bought a new stake in shares of Antero Resources in the 4th quarter worth $587,000. Finally, Perigon Wealth Management LLC grew its stake in shares of Antero Resources by 37.3% in the 4th quarter. Perigon Wealth Management LLC now owns 11,376 shares of the oil and natural gas company's stock worth $392,000 after acquiring an additional 3,089 shares in the last quarter. Institutional investors own 83.04% of the company's stock.

Insider Activity

In other Antero Resources news, Director Benjamin A. Hardesty sold 12,000 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $44.00, for a total transaction of $528,000.00. Following the sale, the director directly owned 150,242 shares of the company's stock, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Yvette K. Schultz sold 15,000 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the sale, the insider directly owned 319,122 shares in the company, valued at approximately $12,551,068.26. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AR. Benchmark upgraded shares of Antero Resources from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a research note on Thursday, March 5th. Citigroup upped their target price on shares of Antero Resources from $39.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Barclays upped their target price on shares of Antero Resources from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. UBS Group upped their target price on shares of Antero Resources from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group set a $50.00 target price on shares of Antero Resources in a research note on Friday, February 13th. Five research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Antero Resources currently has an average rating of "Moderate Buy" and an average price target of $47.60.

Antero Resources Stock Down 2.0%

AR stock opened at $37.15 on Tuesday. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 18.39 and a beta of 0.42. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day moving average of $38.27 and a 200-day moving average of $35.35.

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

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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