Palo Duro Investment Partners LP Invests $95.98 Million in Antero Resources Corporation $AR

Palo Duro Investment Partners LP bought a new position in shares of Antero Resources Corporation (NYSE:AR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,731,503 shares of the oil and natural gas company’s stock, valued at approximately $95,985,000. Antero Resources comprises 18.5% of Palo Duro Investment Partners LP’s investment portfolio, making the stock its biggest position.

Several other institutional investors also recently bought and sold shares of AR. Eastern Bank acquired a new position in Antero Resources in the second quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Antero Resources during the 2nd quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new position in shares of Antero Resources during the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. acquired a new position in shares of Antero Resources in the 3rd quarter valued at $30,000. Finally, IFP Advisors Inc boosted its holdings in Antero Resources by 59.2% during the third 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 in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Antero Resources Price Performance

Shares of NYSE AR opened at $38.54 on Thursday. The firm has a market cap of $11.85 billion, a PE ratio of 11.07 and a beta of 0.34. The firm has a fifty day moving average of $35.33 and a 200 day moving average of $36.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40. Antero Resources Corporation has a one year low of $29.10 and a one year high of $45.75.

Wall Street Analyst Weigh In

AR has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Antero Resources from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Roth Capital reissued a “neutral” rating and set a $38.00 target price on shares of Antero Resources in a research note on Thursday, April 30th. Citigroup dropped their target price on Antero Resources from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Mizuho lifted their price target on Antero Resources from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings raised Antero Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Antero Resources currently has a consensus rating of “Moderate Buy” and an average target price 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.