MGB Wealth Management LLC Purchases Shares of 31,883 Antero Resources Corporation (NYSE:AR)

Key Points

• MGB Wealth Management LLC acquired 31,883 shares of Antero Resources Corporation in Q1, valued at approximately $1.287 million.
• Insider selling has been notable, with records indicating that insiders sold over 1.1 million shares worth nearly $45.9 million in the last three months.
• Analysts maintain a Moderate Buy consensus on Antero Resources, with target price increases from Raymond James, TD Cowen, and others, now averaging around $43.53.

MGB Wealth Management LLC bought a new stake in Antero Resources Corporation (NYSE:AR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 31,883 shares of the oil and natural gas company's stock, valued at approximately $1,287,000.

Other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in Antero Resources during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC bought a new position in shares of Antero Resources in the fourth quarter valued at $35,000. Bessemer Group Inc. grew its stake in shares of 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 buying an additional 411 shares in the last quarter. North Star Investment Management Corp. acquired a new position in Antero Resources during the first quarter worth $44,000. Finally, Sunbelt Securities Inc. bought a new stake in Antero Resources during the first quarter worth $56,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AR. Scotiabank lifted their price target on Antero Resources from $46.00 to $53.00 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 lifted their price objective for the stock from $47.00 to $49.00 in a report on Tuesday, May 13th. Morgan Stanley increased their price objective on shares of Antero Resources from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday. Barclays upped their price objective on Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Bank of America lifted their price objective on shares of Antero Resources from $44.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.53.

Insider Buying and Selling

In other news, Director W Howard Keenan, Jr. sold 1,061,987 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.82, for a total value of $43,350,309.34. Following the completion of the transaction, the director owned 38,013 shares of the company's stock, valued at approximately $1,551,690.66. This represents a 96.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yvette K. Schultz sold 25,200 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $39.86, for a total value of $1,004,472.00. Following the completion of the transaction, the insider directly owned 306,819 shares of the company's stock, valued at $12,229,805.34. This represents a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,125,200 shares of company stock valued at $45,887,466 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Antero Resources Price Performance

NYSE AR traded up $0.04 on Thursday, reaching $33.06. 2,935,021 shares of the company's stock traded hands, compared to its average volume of 5,916,634. The stock has a market cap of $10.21 billion, a PE ratio of 21.06 and a beta of 0.64. Antero Resources Corporation has a 12 month low of $24.53 and a 12 month high of $44.01. The stock has a 50-day simple moving average of $37.33 and a 200 day simple moving average of $37.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.30 and a quick ratio of 0.30.

Antero Resources (NYSE:AR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.33). Antero Resources had a return on equity of 6.48% and a net margin of 10.13%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. The business's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current year.

About Antero Resources

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.