VELA Investment Management LLC Raises Stake in Antero Resources Corporation $AR

VELA Investment Management LLC grew its position in Antero Resources Corporation (NYSE:AR) by 27.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,815 shares of the oil and natural gas company’s stock after purchasing an additional 27,585 shares during the quarter. VELA Investment Management LLC’s holdings in Antero Resources were worth $4,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank purchased a new position in shares of Antero Resources during the 2nd quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Antero Resources in the 2nd quarter worth $29,000. Sunbelt Securities Inc. purchased a new stake in Antero Resources in the 3rd quarter worth $30,000. Rakuten Securities Inc. bought a new stake in Antero Resources during the second quarter valued at about $31,000. Finally, IFP Advisors Inc raised 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 valued at $31,000 after acquiring an additional 345 shares during the period. 83.04% of the stock is owned by hedge funds and other institutional investors.

Antero Resources Trading Up 0.0%

Shares of AR opened at $39.42 on Tuesday. The company’s fifty day moving average is $36.12 and its 200 day moving average is $37.10. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The stock has a market capitalization of $12.12 billion, a PE ratio of 11.33 and a beta of 0.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AR shares. Wolfe Research reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Antero Resources in a research note on Thursday, July 30th. Citigroup cut their target price on Antero Resources from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Benchmark lifted their target price on Antero Resources from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company boosted their price target on Antero Resources from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. 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 note on Thursday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.12.

About Antero Resources

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.