Lazard Asset Management LLC Has $31.13 Million Holdings in Antero Resources Corporation $AR

Lazard Asset Management LLC increased its position in shares of Antero Resources Corporation (NYSE:AR) by 427.4% during the first quarter, HoldingsChannel.com reports. The firm owned 733,422 shares of the oil and natural gas company’s stock after buying an additional 594,352 shares during the period. Lazard Asset Management LLC’s holdings in Antero Resources were worth $31,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. bought a new position in Antero Resources in the third quarter worth $30,000. IFP Advisors Inc increased its holdings in Antero Resources by 59.2% in the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 345 shares during the period. Los Angeles Capital Management LLC bought a new stake in Antero Resources in the 4th quarter valued at $41,000. Hilton Head Capital Partners LLC bought a new stake in Antero Resources in the 4th quarter valued at $44,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Antero Resources in the 4th quarter valued at $45,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction dated 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 sale, the insider 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the sale, the insider 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. The SEC filing for this sale provides additional information. 4.10% of the stock is currently owned by corporate insiders.

Antero Resources Stock Performance

Antero Resources stock opened at $34.00 on Wednesday. The firm has a market capitalization of $10.54 billion, a P/E ratio of 11.04 and a beta of 0.33. The stock has a fifty day moving average price of $34.93 and a two-hundred day moving average price of $36.36. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AR shares. Barclays raised their price objective on shares of Antero Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. Jefferies Financial Group reissued a “buy” rating and issued a $57.00 target price on shares of Antero Resources in a research note on Friday, May 1st. Williams Trading set a $56.00 price target on shares of Antero Resources in a research report on Monday, April 20th. Morgan Stanley cut their price target on shares of Antero Resources from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Antero Resources from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.56.

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.