Mountain Lake Investment Management LLC Has $4.80 Million Stock Position in Antero Resources Corporation $AR

Key Points

• Mountain Lake Investment Management LLC reduced its stake in Antero Resources Corporation by 14.2%, owning 118,669 shares worth approximately $4.80 million at the end of the recent reporting period.
• Several institutional investors increased their positions in Antero Resources, with noteworthy growth from Invesco Ltd. by 44.3% and Assenagon Asset Management S.A. by 133.1% in the first quarter.
• Analysts have generally positive views on the stock, with a consensus rating of "Moderate Buy" and a target price of $43.65, as multiple firms upgraded their ratings in recent months.

Mountain Lake Investment Management LLC decreased its position in shares of Antero Resources Corporation (NYSE:AR - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,669 shares of the oil and natural gas company's stock after selling 19,682 shares during the period. Antero Resources accounts for approximately 4.5% of Mountain Lake Investment Management LLC's portfolio, making the stock its 11th biggest position. Mountain Lake Investment Management LLC's holdings in Antero Resources were worth $4,799,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AR. Assenagon Asset Management S.A. raised its holdings in Antero Resources by 133.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,743,957 shares of the oil and natural gas company's stock valued at $151,406,000 after buying an additional 2,137,538 shares in the last quarter. Invesco Ltd. increased its stake in shares of Antero Resources by 44.3% in the first quarter. Invesco Ltd. now owns 4,440,328 shares of the oil and natural gas company's stock worth $179,567,000 after purchasing an additional 1,362,370 shares during the period. Bank of America Corp DE increased its stake in Antero Resources by 145.1% during the fourth quarter. Bank of America Corp DE now owns 386,725 shares of the oil and natural gas company's stock valued at $13,555,000 after acquiring an additional 1,245,101 shares during the period. Stephens Investment Management Group LLC bought a new position in Antero Resources during the first quarter valued at about $48,314,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in Antero Resources by 210.3% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,274,532 shares of the oil and natural gas company's stock valued at $51,542,000 after acquiring an additional 863,836 shares during the period. Institutional investors and hedge funds own 83.04% of the company's stock.

Antero Resources Price Performance

NYSE AR traded down $0.17 during trading hours on Thursday, reaching $32.68. 1,158,805 shares of the company's stock were exchanged, compared to its average volume of 5,033,256. The firm has a fifty day moving average of $33.30 and a 200-day moving average of $36.26. Antero Resources Corporation has a one year low of $25.36 and a one year high of $44.01. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15. The stock has a market cap of $10.10 billion, a PE ratio of 20.81 and a beta of 0.63.

Antero Resources (NYSE:AR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share (EPS) 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 firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted ($0.21) EPS. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AR shares. Wells Fargo & Company set a $39.00 price objective on Antero Resources and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Raymond James Financial upped their price objective on Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Roth Capital lowered Antero Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $44.00 to $32.00 in a research note on Monday, August 18th. UBS Group upgraded Antero Resources from a "neutral" rating to a "buy" rating and set a $43.00 price objective on the stock in a research note on Wednesday, August 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

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.