Encore Global Management LP Makes New Investment in Antero Resources Corporation $AR

Encore Global Management LP purchased a new stake in shares of Antero Resources Corporation (NYSE:AR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,000 shares of the oil and natural gas company’s stock, valued at approximately $1,230,000.

Several other institutional investors have also added to or reduced their stakes in AR. BlackRock Inc. bought a new position in shares of Antero Resources during the 2nd quarter valued at approximately $966,982,000. Bank of New York Mellon Corp bought a new stake in Antero Resources in the second quarter worth $106,063,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Antero Resources in the second quarter worth $100,212,000. Assenagon Asset Management S.A. raised its stake in Antero Resources by 177.4% during the first quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock valued at $153,261,000 after purchasing an additional 2,309,388 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Antero Resources by 140.2% during the third quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock valued at $116,371,000 after purchasing an additional 2,023,828 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Price Performance

Shares of AR stock opened at $38.04 on Friday. The stock has a 50 day moving average price of $35.08 and a 200 day moving average price of $36.71. 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 0.29, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $11.70 billion, a P/E ratio of 10.93 and a beta of 0.34.

Analysts Set New Price Targets

Several research firms have commented on AR. JPMorgan Chase & Co. lowered their price objective on shares of Antero Resources from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Mizuho upped their target price on shares of Antero Resources from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Citigroup lowered their price target on shares of Antero Resources from $53.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Truist Financial dropped their price target on Antero Resources from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.31.

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.