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Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Antero Resources Corp (NYSE:AR)

By August 30, 2019 No Comments

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Antero Resources Corp (NYSE:AR) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 676,477 shares of the oil and natural gas company’s stock after selling 138,375 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Antero Resources worth $3,741,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Antero Resources in the first quarter valued at about $263,000. BNP Paribas Arbitrage SA boosted its position in shares of Antero Resources by 64.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 138,456 shares of the oil and natural gas company’s stock valued at $1,223,000 after purchasing an additional 54,395 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Antero Resources during the 1st quarter valued at about $96,000. Quadrant Capital Group LLC boosted its position in shares of Antero Resources by 3,191.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,654 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 3,543 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Antero Resources by 235.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,083 shares of the oil and natural gas company’s stock valued at $398,000 after purchasing an additional 31,649 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. Guggenheim set a $10.00 target price on Antero Resources and gave the company a “buy” rating in a research report on Wednesday, August 21st. Canaccord Genuity restated an “average” rating and set a $3.50 target price on shares of Antero Resources in a research report on Wednesday, June 26th. TD Securities cut their target price on Antero Resources from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Zacks Investment Research upgraded Antero Resources from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Friday, July 12th. Finally, Morgan Stanley upped their target price on Antero Resources from $6.00 to $6.25 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Antero Resources presently has an average rating of “Hold” and an average target price of $11.48.

Shares of NYSE:AR opened at $3.37 on Friday. The business’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $6.76. The firm has a market cap of $964.77 million, a P/E ratio of 4.38 and a beta of 0.70. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.58. Antero Resources Corp has a 52-week low of $2.78 and a 52-week high of $20.21.

Antero Resources (NYSE:AR) last announced its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Antero Resources had a positive return on equity of 2.99% and a negative net margin of 4.91%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS. On average, equities analysts forecast that Antero Resources Corp will post -0.16 earnings per share for the current fiscal year.

In other Antero Resources news, Director James R. Levy sold 16,094,190 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.17, for a total value of $99,301,152.30. Following the transaction, the director now owns 116,214 shares in the company, valued at $717,040.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

Antero Resources Company 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.

Read More: What is a stock buyback?

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

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