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Massachusetts Financial Services Co. MA Lowers Stake in Antero Resources Corporation (NYSE:AR)

Antero Resources logo with Energy background

Massachusetts Financial Services Co. MA reduced its stake in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,054,414 shares of the oil and natural gas company's stock after selling 796,941 shares during the period. Massachusetts Financial Services Co. MA owned 0.66% of Antero Resources worth $83,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AR. CWM LLC boosted its holdings in Antero Resources by 109.6% in the first quarter. CWM LLC now owns 32,725 shares of the oil and natural gas company's stock worth $1,323,000 after purchasing an additional 17,113 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Antero Resources by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 81,900 shares of the oil and natural gas company's stock valued at $3,312,000 after buying an additional 700 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Antero Resources during the first quarter valued at about $48,314,000. New York State Common Retirement Fund raised its position in shares of Antero Resources by 4.2% during the first quarter. New York State Common Retirement Fund now owns 143,095 shares of the oil and natural gas company's stock valued at $5,787,000 after buying an additional 5,768 shares during the last quarter. Finally, Ballentine Partners LLC raised its position 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 valued at $254,000 after buying an additional 419 shares during the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Antero Resources Trading Down 0.4%

Shares of Antero Resources stock traded down $0.13 during trading on Friday, reaching $36.30. The company's stock had a trading volume of 3,659,564 shares, compared to its average volume of 4,410,088. Antero Resources Corporation has a 52-week low of $24.53 and a 52-week high of $44.02. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 42.21 and a beta of 0.68. The firm's 50-day moving average is $39.12 and its two-hundred day moving average is $37.94. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.17.

Antero Resources (NYSE:AR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and natural gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.68 by $0.10. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.28 billion. Antero Resources had a net margin of 5.96% and a return on equity of 4.01%. The company's revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, sell-side analysts anticipate that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company set a $39.00 price objective on shares of Antero Resources and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Scotiabank set a $53.00 target price on shares of Antero Resources and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Mizuho raised shares of Antero Resources from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $47.00 to $49.00 in a report on Tuesday, May 13th. TD Cowen raised shares of Antero Resources from a "hold" rating to a "buy" rating and boosted their price target for the company from $40.00 to $46.00 in a report on Tuesday, April 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $58.00 price objective on shares of Antero Resources in a research report on Wednesday, March 26th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Antero Resources presently has a consensus rating of "Moderate Buy" and an average price target of $44.12.

View Our Latest Stock Report on AR

Insider Transactions at Antero Resources

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

Antero Resources Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Antero Resources (NYSE:AR)

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