Miller Howard Investments Inc. NY Reduces Holdings in Antero Resources Corporation $AR

Key Points

• Miller Howard Investments Inc. reduced its stake in Antero Resources Corporation by 7.7%, selling 10,380 shares and owning a total of 125,133 shares valued at $5,040,000.
• Institutional investors hold approximately 83.04% of Antero Resources' stock, indicative of strong institutional interest in the company.
• Antero Resources reported $0.35 earnings per share, falling short of the consensus estimate of $0.68, despite a 32.6% year-over-year revenue increase to $1.30 billion.

Miller Howard Investments Inc. NY lowered its position in Antero Resources Corporation (NYSE:AR - Free Report) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,133 shares of the oil and natural gas company's stock after selling 10,380 shares during the period. Miller Howard Investments Inc. NY's holdings in Antero Resources were worth $5,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Antero Resources in the first quarter worth about $6,761,000. CWM LLC increased its position in Antero Resources by 109.6% during the 1st quarter. CWM LLC now owns 32,725 shares of the oil and natural gas company's stock worth $1,323,000 after buying an additional 17,113 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Antero Resources by 14.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,670 shares of the oil and natural gas company's stock worth $472,000 after purchasing an additional 1,461 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Antero Resources by 64.7% during 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 purchasing an additional 411 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Antero Resources in the first quarter worth approximately $538,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Antero Resources Price Performance

Antero Resources stock traded up $1.08 during midday trading on Tuesday, reaching $33.66. The company had a trading volume of 1,551,122 shares, compared to its average volume of 5,017,967. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.30 and a quick ratio of 0.30. The firm's fifty day simple moving average is $32.64 and its 200-day simple moving average is $36.06. Antero Resources Corporation has a 12-month low of $25.36 and a 12-month high of $44.01. The company has a market capitalization of $10.40 billion, a P/E ratio of 21.45 and a beta of 0.64.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Antero Resources from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Barclays raised their target price 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. Roth Capital lowered Antero Resources from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $44.00 to $32.00 in a report on Monday, August 18th. Wells Fargo & Company set a $39.00 price target on Antero Resources and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Mizuho lowered their price objective on Antero Resources from $49.00 to $41.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.75.

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.