Bank of Nova Scotia Purchases 73,677 Shares of Antero Resources Corporation $AR

Bank of Nova Scotia increased its holdings in shares of Antero Resources Corporation (NYSE:AR) by 52.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 214,052 shares of the oil and natural gas company’s stock after acquiring an additional 73,677 shares during the quarter. Bank of Nova Scotia’s holdings in Antero Resources were worth $8,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in shares of Antero Resources in the first quarter worth about $26,000. Huntington National Bank grew its position in shares of Antero Resources by 91.3% in the 2nd quarter. Huntington National Bank now owns 656 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 313 shares during the period. FNY Investment Advisers LLC increased its stake in Antero Resources by 9,900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,500 shares of the oil and natural gas company’s stock worth $60,000 after purchasing an additional 1,485 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Antero Resources by 701.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock worth $120,000 after buying an additional 2,616 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Antero Resources in the second quarter valued at approximately $162,000. 83.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Capital reaffirmed a “neutral” rating and issued a $36.00 target price on shares of Antero Resources in a research note on Monday. Zacks Research raised Antero Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Morgan Stanley increased their price objective on Antero Resources from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday. Wall Street Zen cut Antero Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $39.00 price target (down previously from $44.00) on shares of Antero Resources in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Antero Resources has an average rating of “Moderate Buy” and a consensus price target of $43.94.

Insider Activity

In related news, insider Brendan E. Krueger purchased 5,000 shares of the stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $33.35 per share, with a total value of $166,750.00. Following the acquisition, the insider directly owned 295,917 shares in the company, valued at $9,868,831.95. The trade was a 1.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.30% of the company’s stock.

Antero Resources Stock Performance

Shares of NYSE AR opened at $37.16 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $33.72 and a 200 day moving average price of $34.75. The stock has a market capitalization of $11.46 billion, a PE ratio of 19.76 and a beta of 0.57. 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, October 29th. The oil and natural gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.38). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.25 billion. Antero Resources had a return on equity of 7.51% and a net margin of 11.73%.Antero Resources’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current fiscal year.

Antero Resources Profile

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.