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

VELA Investment Management LLC boosted its position in shares of Antero Resources Corporation (NYSE:AR) by 71.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 121,635 shares of the oil and natural gas company’s stock after acquiring an additional 50,611 shares during the period. Antero Resources accounts for about 1.0% of VELA Investment Management LLC’s portfolio, making the stock its 26th biggest holding. VELA Investment Management LLC’s holdings in Antero Resources were worth $4,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its position in shares of Antero Resources by 91.3% during the 2nd quarter. Huntington National Bank now owns 656 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 313 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Antero Resources by 6.4% in the second quarter. Coldstream Capital Management Inc. now owns 5,451 shares of the oil and natural gas company’s stock valued at $220,000 after acquiring an additional 328 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Antero Resources by 3.9% during the second quarter. ProShare Advisors LLC now owns 12,945 shares of the oil and natural gas company’s stock worth $521,000 after purchasing an additional 484 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Antero Resources by 114.2% during the second 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 last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Antero Resources by 9.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,967 shares of the oil and natural gas company’s stock valued at $240,000 after purchasing an additional 523 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Antero Resources Stock Performance

NYSE:AR opened at $34.23 on Thursday. The firm’s fifty day simple moving average is $34.25 and its 200-day simple moving average is $33.42. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.17. The stock has a market cap of $10.56 billion, a PE ratio of 18.21 and a beta of 0.50. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $44.01.

Antero Resources (NYSE:AR) last released its quarterly earnings data on Wednesday, October 29th. The oil and natural gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.38). Antero Resources had a return on equity of 7.51% and a net margin of 11.73%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts expect that Antero Resources Corporation will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their price target on Antero Resources from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Antero Resources from $39.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $39.00 target price (down from $44.00) on shares of Antero Resources in a report on Monday, December 8th. Mizuho set a $47.00 price target on Antero Resources in a report on Friday, December 12th. Finally, UBS Group increased their price target on shares of Antero Resources from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Antero Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.63.

Insider Buying and Selling at Antero Resources

In other news, insider Brendan E. Krueger acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $33.35 per share, with a total value of $166,750.00. Following the purchase, the insider directly owned 295,917 shares of the company’s stock, valued at approximately $9,868,831.95. This trade represents a 1.72% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

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.