Maverick Capital Ltd. Buys Shares of 20,817 Antero Resources Corporation $AR

Maverick Capital Ltd. bought a new stake in shares of Antero Resources Corporation (NYSE:AR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,817 shares of the oil and natural gas company’s stock, valued at approximately $883,000.

Several other large investors also recently modified their holdings of AR. NewEdge Advisors LLC raised its holdings in shares of Antero Resources by 16,498.3% in the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after purchasing an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Antero Resources by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock valued at $23,882,000 after purchasing an additional 43,312 shares during the last quarter. Focus Partners Wealth grew its holdings in Antero Resources by 18.9% during the first quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock valued at $806,000 after purchasing an additional 3,169 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 during the period. Finally, Daiwa Securities Group Inc. increased its position in Antero Resources by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company’s stock worth $1,470,000 after buying an additional 6,700 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Price Performance

AR stock opened at $34.00 on Wednesday. The firm has a 50 day simple moving average of $34.93 and a two-hundred day simple moving average of $36.36. The stock has a market cap of $10.54 billion, a PE ratio of 11.04 and a beta of 0.33. Antero Resources Corporation has a one year low of $29.10 and a one year 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.

Insider Buying and Selling

In related news, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the transaction, the insider owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares in the company, valued at $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AR. Citigroup upped their price target on Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings cut Antero Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price objective on shares of Antero Resources from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. Roth Capital reiterated a “neutral” rating and set a $38.00 target price on shares of Antero Resources in a research report on Thursday, April 30th. Finally, Morgan Stanley reduced their target price 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. Three equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.56.

Antero Resources 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.