18,718 Shares in Antero Resources Corporation $AR Acquired by Purpose Unlimited Inc.

Purpose Unlimited Inc. acquired a new position in shares of Antero Resources Corporation (NYSE:AR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 18,718 shares of the oil and natural gas company’s stock, valued at approximately $645,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AR. Rockefeller Capital Management L.P. increased its position in shares of Antero Resources by 311.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 8,858 shares of the oil and natural gas company’s stock worth $305,000 after purchasing an additional 6,704 shares during the period. Corient Private Wealth LLC bought a new stake in Antero Resources during the fourth quarter worth about $228,000. Fearnley Asset Management AS bought a new stake in Antero Resources during the fourth quarter worth about $24,511,000. Caitong International Asset Management Co. Ltd acquired a new stake in Antero Resources during the fourth quarter worth about $56,000. Finally, Invesco Ltd. grew its stake in Antero Resources by 18.0% during the fourth quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock worth $172,291,000 after buying an additional 761,842 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Stock Performance

Shares of AR stock opened at $33.23 on Monday. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 10.79 and a beta of 0.33. Antero Resources Corporation has a 52 week low of $29.10 and a 52 week high of $45.75. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $36.61 and a 200-day moving average of $36.42.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AR shares. Mizuho boosted their target price on shares of Antero Resources from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Benchmark upgraded Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday, March 5th. Barclays boosted 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 note on Monday, March 16th. Bank of America upped their price objective on Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $57.00 price objective on shares of Antero Resources in a report on Friday, May 1st. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Antero Resources has a consensus rating of “Moderate Buy” and an average target price of $50.06.

Insiders Place Their Bets

In other Antero Resources news, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.33, for a total value of $7,308,536.58. Following the completion of the sale, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider directly owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.10% of the stock is owned by insiders.

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.