HITE Hedge Asset Management LLC Sells 374,005 Shares of Antero Resources Corporation $AR

HITE Hedge Asset Management LLC reduced its holdings in shares of Antero Resources Corporation (NYSE:AR) by 33.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 755,140 shares of the oil and natural gas company’s stock after selling 374,005 shares during the period. Antero Resources comprises 1.4% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 20th largest holding. HITE Hedge Asset Management LLC’s holdings in Antero Resources were worth $25,342,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AR. Root Financial Partners LLC bought a new stake in shares of Antero Resources during the 3rd quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its holdings in Antero Resources by 114.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 938 shares of the oil and natural gas company’s stock worth $38,000 after purchasing an additional 500 shares during the period. Clearstead Advisors LLC raised its holdings in Antero Resources by 100.1% in the 3rd quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company’s stock worth $83,000 after purchasing an additional 1,244 shares during the period. EverSource Wealth Advisors LLC lifted its position in Antero Resources by 701.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock valued at $120,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Antero Resources by 12.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,840 shares of the oil and natural gas company’s stock valued at $129,000 after purchasing an additional 413 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of Antero Resources stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.33, for a total value of $589,950.00. Following the sale, the insider owned 319,122 shares of the company’s stock, valued at $12,551,068.26. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

Antero Resources Stock Up 1.9%

AR opened at $40.43 on Friday. The company has a market capitalization of $12.47 billion, a PE ratio of 20.02 and a beta of 0.52. The firm has a 50-day simple moving average of $34.70 and a two-hundred day simple moving average of $33.91. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. Antero Resources Corporation has a 52 week low of $29.10 and a 52 week high of $44.01.

Antero Resources (NYSE:AR) last issued its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts forecast that Antero Resources Corporation will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AR. Wall Street Zen cut Antero Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Barclays lowered their price objective on Antero Resources from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 21st. Jefferies Financial Group set a $50.00 target price on shares of Antero Resources in a report on Friday, February 13th. Benchmark upgraded shares of Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Thursday, March 5th. Finally, Mizuho set a $47.00 price target on shares of Antero Resources in a report on Friday, December 12th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.87.

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.