Palo Duro Investment Partners LP Takes $95.98 Million Position in Antero Resources Corporation $AR

Key Points

• Palo Duro Investment Partners LP purchased 2.73 million shares of Antero Resources, valued at approximately $95.98 million. The position represents 18.5% of the fund’s portfolio and 0.89% of Antero’s outstanding shares.
• Institutional ownership remains high, with hedge funds and other institutions holding 83.04% of Antero Resources. Several smaller funds also initiated or increased positions during the second and third quarters.
• Antero Resources shares opened at $38.54, below the analyst consensus price target of $48.31. Analysts maintain a “Moderate Buy” consensus, although some brokerages recently lowered their price targets.

Palo Duro Investment Partners LP purchased a new position in Antero Resources Corporation (NYSE:AR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,731,503 shares of the oil and natural gas company's stock, valued at approximately $95,985,000. Antero Resources makes up approximately 18.5% of Palo Duro Investment Partners LP's portfolio, making the stock its largest holding. Palo Duro Investment Partners LP owned 0.89% of Antero Resources at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AR. Eastern Bank purchased a new stake in shares of Antero Resources during the second quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Antero Resources in the 2nd quarter worth approximately $29,000. Rakuten Securities Inc. bought a new position in shares of Antero Resources during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Antero Resources during the third quarter valued at approximately $30,000. Finally, IFP Advisors Inc lifted its position in Antero Resources by 59.2% during the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 345 shares during the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Antero Resources Price Performance

Shares of AR opened at $38.54 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The company's fifty day moving average price is $35.33 and its 200-day moving average price is $36.82. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The firm has a market capitalization of $11.85 billion, a PE ratio of 11.07 and a beta of 0.34.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AR. Barclays cut their price target on shares of Antero Resources from $46.00 to $45.00 and set an "equal weight" rating on the stock in a report on Monday, August 17th. Citigroup decreased their price objective on Antero Resources from $53.00 to $45.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Jefferies Financial Group reissued a "buy" rating and issued a $57.00 price objective on shares of Antero Resources in a research report on Friday, May 1st. Truist Financial reduced their target price on Antero Resources from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $48.00 price target on shares of Antero Resources in a research note on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.31.

About Antero Resources

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.

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