Riggs Asset Managment Co. Inc. Invests $1.40 Million in Antero Resources Corporation $AR

Key Points

• Riggs Asset Management acquired a new stake of 40,593 shares in Antero Resources (≈$1.40M) in the fourth quarter, adding to a stock base that is about 83.04% institutionally owned.
• Antero beat quarterly estimates with Q4 EPS of $0.62 (vs. $0.49 expected) and revenue of $1.41 billion (vs. $1.33 billion), with revenue up 20.8% year-over-year.
• Wall Street sentiment is broadly positive — the stock has a consensus rating of "Moderate Buy" and an average price target of $48.56 amid multiple recent upgrades and raised targets.

Riggs Asset Managment Co. Inc. acquired a new stake in Antero Resources Corporation (NYSE:AR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,593 shares of the oil and natural gas company's stock, valued at approximately $1,399,000.

Other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Antero Resources during the 3rd quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Antero Resources in the 3rd quarter valued at approximately $30,000. IFP Advisors Inc boosted its stake in shares of Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 345 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Antero Resources by 167.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,824 shares of the oil and natural gas company's stock valued at $59,000 after buying an additional 1,143 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Antero Resources by 100.1% during the third quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company's stock worth $83,000 after acquiring an additional 1,244 shares during the period. Hedge funds and other institutional investors own 83.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AR. Bank of America increased their price objective on Antero Resources from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday. Williams Trading set a $56.00 price target on shares of Antero Resources in a research note on Monday. Barclays increased their price target on shares of Antero Resources from $41.00 to $43.00 and gave the company an "equal weight" rating in a report on Monday, March 16th. TD Cowen upgraded shares of Antero Resources to a "strong-buy" rating in a research note on Monday, February 9th. Finally, UBS Group boosted their price objective on shares of Antero Resources from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.56.

Antero Resources Trading Down 1.0%

Shares of AR stock opened at $38.20 on Friday. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The stock has a market cap of $11.79 billion, a P/E ratio of 18.91, a P/E/G ratio of 0.36 and a beta of 0.42. The business has a fifty day simple moving average of $38.75 and a 200-day simple moving average of $35.51. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Antero Resources (NYSE:AR - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. On average, analysts forecast that Antero Resources Corporation will post 4.14 earnings per share for the current fiscal year.

Insider Transactions at Antero Resources

In other news, insider Yvette K. Schultz sold 15,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.33, for a total value of $589,950.00. Following the sale, the insider directly owned 319,122 shares in the company, valued at $12,551,068.26. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin A. Hardesty sold 12,000 shares of the firm'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 transaction of $528,000.00. Following the transaction, the director directly owned 150,242 shares of the company's stock, valued at approximately $6,610,648. This trade represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.30% of the company's stock.

Antero Resources 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.

Want to see what other hedge funds are holding AR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Resources Corporation (NYSE:AR - Free Report).

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.