NewEdge Wealth LLC Buys Shares of 583,110 Antero Resources Corporation $AR

Key Points

• NewEdge Wealth LLC bought 583,110 shares of Antero Resources in the fourth quarter, a position valued at about $20.1 million and equal to roughly 0.19% of the company.
• Institutional ownership remains high at 83.04%, while insiders have been selling shares recently, including director Benjamin A. Hardesty and insider Yvette K. Schultz.
• Antero Resources reported better-than-expected quarterly results, with EPS of $0.62 versus $0.49 expected and revenue of $1.41 billion; analysts currently rate the stock a Buy with a consensus target of $49.63.

NewEdge Wealth LLC purchased a new position in shares of Antero Resources Corporation (NYSE:AR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 583,110 shares of the oil and natural gas company's stock, valued at approximately $20,094,000. NewEdge Wealth LLC owned approximately 0.19% of Antero Resources as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in Antero Resources by 4.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,506 shares of the oil and natural gas company's stock worth $293,000 after buying an additional 343 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Antero Resources in the fourth quarter valued at $99,000. VELA Investment Management LLC raised its stake in shares of Antero Resources by 6.2% in the fourth quarter. VELA Investment Management LLC now owns 129,130 shares of the oil and natural gas company's stock valued at $4,450,000 after acquiring an additional 7,495 shares in the last quarter. Horizon Investments LLC boosted its holdings in Antero Resources by 553,689.6% in the fourth quarter. Horizon Investments LLC now owns 371,039 shares of the oil and natural gas company's stock valued at $12,786,000 after purchasing an additional 370,972 shares during the period. Finally, Summit Place Financial Advisors LLC purchased a new position in Antero Resources in the fourth quarter valued at $841,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Insider Activity at Antero Resources

In related news, Director Benjamin A. Hardesty sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total value of $528,000.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the transaction, the insider owned 277,665 shares in the company, valued at $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 252,316 shares of company stock valued at $9,977,259 over the last three months. 6.30% of the stock is owned by corporate insiders.

Antero Resources Stock Down 1.2%

Antero Resources stock opened at $35.94 on Friday. The stock has a market cap of $11.13 billion, a PE ratio of 11.67, a P/E/G ratio of 0.35 and a beta of 0.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The stock's fifty day moving average is $39.36 and its two-hundred day moving average is $35.88. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.13. Antero Resources had a return on equity of 7.80% and a net margin of 16.39%.The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the firm posted $0.48 EPS. The business's quarterly revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts expect that Antero Resources Corporation will post 4.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AR. Roth Mkm restated a "neutral" rating and set a $38.00 price target on shares of Antero Resources in a report on Thursday, April 30th. Citigroup lifted their price objective on Antero Resources from $39.00 to $53.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Zacks Research raised Antero Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Truist Financial initiated coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They set a "buy" rating and a $56.00 target price on the stock. Finally, TD Cowen upgraded shares of Antero Resources to a "strong-buy" rating in a research note on Monday, February 9th. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Antero Resources currently has a consensus rating of "Buy" and a consensus price target of $49.63.

Antero Resources Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.