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Acadian Asset Management LLC Trims Stake in Antero Resources Corp (NYSE:AR)

By September 14, 2019 No Comments

Acadian Asset Management LLC trimmed its holdings in shares of Antero Resources Corp (NYSE:AR) by 98.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,591 shares of the oil and natural gas company’s stock after selling 1,049,018 shares during the quarter. Acadian Asset Management LLC’s holdings in Antero Resources were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of AR. Nisa Investment Advisors LLC lifted its stake in Antero Resources by 100.0% during the second quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the oil and natural gas company’s stock worth $35,000 after purchasing an additional 3,200 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in Antero Resources during the second quarter worth about $58,000. Wetherby Asset Management Inc. bought a new stake in Antero Resources during the second quarter worth about $60,000. WINTON GROUP Ltd bought a new stake in Antero Resources during the second quarter worth about $65,000. Finally, Commonwealth Bank of Australia lifted its stake in Antero Resources by 1,440.0% during the first quarter. Commonwealth Bank of Australia now owns 7,700 shares of the oil and natural gas company’s stock worth $66,000 after purchasing an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 95.06% of the company’s stock.

NYSE AR opened at $3.61 on Friday. Antero Resources Corp has a 1-year low of $2.78 and a 1-year high of $20.21. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $3.70 and a 200-day moving average of $6.34. The firm has a market cap of $1.12 billion, a PE ratio of 4.69 and a beta of 0.79.

Antero Resources (NYSE:AR) last released its earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). Antero Resources had a negative net margin of 4.91% and a positive return on equity of 2.99%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts forecast that Antero Resources Corp will post -0.33 earnings per share for the current fiscal year.

AR has been the subject of several research analyst reports. Canaccord Genuity reaffirmed an “average” rating and set a $3.50 price target on shares of Antero Resources in a research note on Wednesday, June 26th. TD Securities dropped their price target on Antero Resources from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Friday, August 2nd. Guggenheim set a $10.00 price target on Antero Resources and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Zacks Investment Research raised Antero Resources from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Friday, July 12th. Finally, Morgan Stanley lifted their price target on Antero Resources from $6.00 to $6.25 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.48.

Antero Resources Profile

Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.

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Institutional Ownership by Quarter for Antero Resources (NYSE:AR)

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