Michael Kennedy Sells 185,826 Shares of Antero Resources (NYSE:AR) Stock

Antero Resources Corporation (NYSE:AR) insider Michael Kennedy sold 185,826 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.33, for a total value of $7,308,536.58. Following the sale, the insider directly owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Antero Resources Price Performance

Antero Resources stock opened at $39.15 on Wednesday. Antero Resources Corporation has a one year low of $29.10 and a one year high of $45.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40. The business has a fifty day moving average of $39.25 and a two-hundred day moving average of $35.79. The company has a market cap of $12.13 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.38 and a beta of 0.36.

Antero Resources (NYSE:AR) last released its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Antero Resources had a return on equity of 7.80% and a net margin of 16.39%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.48 earnings per share. Antero Resources’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts predict that Antero Resources Corporation will post 4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on AR shares. Benchmark raised Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Thursday, March 5th. Jefferies Financial Group reissued a “buy” rating and issued a $57.00 target price on shares of Antero Resources in a report on Friday, May 1st. UBS Group raised their target price on Antero Resources from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday. Citigroup raised their target price on Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Truist Financial began coverage on Antero Resources in a report on Tuesday, March 24th. They issued a “buy” rating and a $56.00 target price for the company. Five analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $49.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AR. Root Financial Partners LLC acquired a new position in shares of Antero Resources during the 3rd quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in shares of Antero Resources during the 3rd quarter worth $30,000. IFP Advisors Inc raised its stake in shares of Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Antero Resources during the 4th quarter worth $41,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Antero Resources during the 4th quarter worth $44,000. Institutional investors and hedge funds own 83.04% of the company’s stock.

Antero Resources Company 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.