Appaloosa LP Sells 905,000 Shares of Antero Resources Co. (NYSE:AR)

Appaloosa LP reduced its stake in shares of Antero Resources Co. (NYSE:AR) by 51.9% in the fourth quarter, Holdings Channel reports. The fund owned 840,000 shares of the oil and natural gas company’s stock after selling 905,000 shares during the quarter. Appaloosa LP’s holdings in Antero Resources were worth $29,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mercuria Capital Strategies LLC purchased a new stake in shares of Antero Resources during the 4th quarter valued at approximately $11,917,000. Swiss National Bank raised its position in shares of Antero Resources by 0.8% during the 4th quarter. Swiss National Bank now owns 581,100 shares of the oil and natural gas company’s stock valued at $20,368,000 after buying an additional 4,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Antero Resources by 37.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,565 shares of the oil and natural gas company’s stock valued at $8,081,000 after buying an additional 62,683 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Antero Resources by 464.0% during the 4th quarter. Farther Finance Advisors LLC now owns 21,901 shares of the oil and natural gas company’s stock valued at $768,000 after buying an additional 18,018 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Antero Resources during the 4th quarter valued at $556,000. 83.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Williams Trading set a $48.00 price objective on shares of Antero Resources in a research report on Wednesday, March 5th. Barclays increased their target price on shares of Antero Resources from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Raymond James increased their target price on shares of Antero Resources from $44.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. UBS Group increased their target price on shares of Antero Resources from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Antero Resources to a “sell” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.94.

Antero Resources Price Performance

Antero Resources stock opened at $36.10 on Thursday. The firm has a 50-day moving average price of $38.01 and a 200-day moving average price of $32.42. The firm has a market capitalization of $11.23 billion, a PE ratio of 112.83 and a beta of 3.38. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.21. Antero Resources Co. has a 12-month low of $24.53 and a 12-month high of $41.53.

Antero Resources (NYSE:AR) last posted its quarterly earnings results on Wednesday, February 12th. The oil and natural gas company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. Antero Resources had a net margin of 2.31% and a return on equity of 0.74%. As a group, equities research analysts forecast that Antero Resources Co. will post 2.74 EPS for the current year.

Insider Buying and Selling at Antero Resources

In other news, Director W Howard Keenan, Jr. sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $39.76, for a total value of $7,952,000.00. Following the sale, the director now directly owns 1,800,000 shares in the company, valued at approximately $71,568,000. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.