Truist Financial Corp Sells 49,323 Shares of Antero Resources Corporation $AR

Key Points

• Truist Financial Corp cut its Antero Resources stake sharply in the fourth quarter, selling 49,323 shares and reducing its position by 72.2% to 18,968 shares valued at about $654,000.
• Institutional ownership remains high, with 83.04% of Antero Resources held by institutions, and several other funds increased their positions during recent quarters.
• Analysts are broadly bullish on AR, with a consensus “Buy” rating and an average target price of $49.63, while the stock recently traded around $38.35.

Truist Financial Corp lessened its position in Antero Resources Corporation (NYSE:AR - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,968 shares of the oil and natural gas company's stock after selling 49,323 shares during the period. Truist Financial Corp's holdings in Antero Resources were worth $654,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Antero Resources by 16,498.3% in the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company's stock worth $389,000 after purchasing an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Antero Resources by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company's stock worth $23,882,000 after purchasing an additional 43,312 shares during the period. Focus Partners Wealth lifted its position in shares of Antero Resources by 18.9% in the 1st quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company's stock worth $806,000 after purchasing an additional 3,169 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Antero Resources by 701.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company's stock worth $120,000 after purchasing an additional 2,616 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Antero Resources by 22.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company's stock worth $1,470,000 after purchasing an additional 6,700 shares during the period. Institutional investors own 83.04% of the company's stock.

Antero Resources Trading Up 0.3%

Shares of NYSE AR opened at $38.35 on Tuesday. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75. The stock has a market cap of $11.88 billion, a P/E ratio of 12.45 and a beta of 0.36. The firm has a 50-day moving average of $39.40 and a 200 day moving average of $36.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40.

Analyst Ratings Changes

AR has been the subject of several research analyst reports. Barclays raised their target price on shares of Antero Resources from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Bank of America raised their target price on shares of Antero Resources from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Wells Fargo & Company raised their target price on shares of Antero Resources from $49.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. UBS Group raised their target price on shares of Antero Resources from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Roth Mkm reaffirmed a "neutral" rating and issued a $38.00 target price on shares of Antero Resources in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Antero Resources presently has a consensus rating of "Buy" and a consensus target price of $49.63.

Insider Activity at Antero Resources

In related news, Director Benjamin A. Hardesty sold 12,000 shares of Antero Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $44.00, for a total transaction 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 trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of Antero Resources stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the transaction, the insider directly owned 1,085,192 shares of the company's stock, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 252,316 shares of company stock valued at $9,977,259 in the last three months. Company 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.

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