Icon Advisers Inc. Co. Takes Position in Antero Resources Corporation $AR

Icon Advisers Inc. Co. purchased a new position in shares of Antero Resources Corporation (NYSE:AR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 112,000 shares of the oil and natural gas company’s stock, valued at approximately $4,753,000. Antero Resources accounts for 1.1% of Icon Advisers Inc. Co.’s portfolio, making the stock its 23rd biggest holding.

Several other large investors have also recently added to or reduced their stakes in AR. Dimensional Fund Advisors LP boosted its holdings in Antero Resources by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock valued at $434,597,000 after purchasing an additional 1,153,422 shares in the last quarter. State Street Corp raised its stake in shares of Antero Resources by 1.2% during the 3rd quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock worth $341,368,000 after buying an additional 116,461 shares in the last quarter. Sourcerock Group LLC raised its stake in shares of Antero Resources by 10.6% during the 2nd quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock worth $328,529,000 after buying an additional 783,117 shares in the last quarter. Invesco Ltd. raised its stake in shares of Antero Resources by 18.0% during the 4th 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. Finally, AQR Capital Management LLC lifted its holdings in shares of Antero Resources by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock valued at $161,768,000 after buying an additional 1,226,828 shares during the period. 83.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AR. Morgan Stanley dropped their price objective on Antero Resources from $56.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Truist Financial reduced their target price on Antero Resources from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group decreased their target price on shares of Antero Resources from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Mizuho upped their price target on shares of Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $57.00 price target on shares of Antero Resources in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.56.

Insider Buying and Selling at Antero Resources

In other news, insider Michael N. Kennedy sold 185,826 shares of the firm’s 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 completion of the transaction, the insider owned 1,085,192 shares in the company, valued at $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $39.27, for a total value of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares of the company’s stock, valued at $10,903,904.55. This trade represents a 12.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.10% of the stock is currently owned by corporate insiders.

Antero Resources Stock Performance

AR opened at $35.26 on Thursday. 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 $10.92 billion, a P/E ratio of 11.45 and a beta of 0.33. The stock’s 50 day simple moving average is $35.21 and its 200 day simple moving average is $36.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40.

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.