Traders Buy High Volume of Antero Midstream Call Options (NYSE:AM)

Antero Midstream Corporation (NYSE:AM) was the target of unusually large options trading on Wednesday. Stock investors acquired 4,863 call options on the stock. This is an increase of 242% compared to the typical daily volume of 1,423 call options.

Antero Midstream Stock Performance

Shares of NYSE:AM traded down $0.02 on Wednesday, reaching $22.88. 866,865 shares of the company’s stock were exchanged, compared to its average volume of 2,587,647. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The business’s 50-day moving average is $22.31 and its two-hundred day moving average is $22.14. Antero Midstream has a fifty-two week low of $16.96 and a fifty-two week high of $23.83. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 27.26 and a beta of 0.65.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. During the same period in the previous year, the firm posted $0.29 earnings per share. Antero Midstream’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Antero Midstream will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 3.9%. Antero Midstream’s payout ratio is presently 107.14%.

Insiders Place Their Bets

In related news, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brooks Klimley sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the sale, the director directly owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

A number of hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC purchased a new position in Antero Midstream in the 2nd quarter worth about $25,000. Clearstead Trust LLC acquired a new position in Antero Midstream in the 2nd quarter valued at approximately $30,000. Larson Financial Group LLC raised its holdings in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 708 shares in the last quarter. Arax Advisory Partners raised its stake in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in Antero Midstream in the second quarter worth approximately $38,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AM shares. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $24.50.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.