Synovus Financial Corp Makes New Investment in Antero Resources Corporation $AR

Synovus Financial Corp acquired a new stake in Antero Resources Corporation (NYSE:AR) in the third quarter, HoldingsChannel reports. The fund acquired 16,712 shares of the oil and natural gas company’s stock, valued at approximately $561,000.

Several other institutional investors also recently modified their holdings of the company. CenterBook Partners LP bought a new stake in shares of Antero Resources in the 3rd quarter valued at about $2,260,000. Colrain Capital LLC grew its holdings in Antero Resources by 56.2% during the third quarter. Colrain Capital LLC now owns 254,550 shares of the oil and natural gas company’s stock worth $8,543,000 after purchasing an additional 91,550 shares during the period. Heartland Advisors Inc. increased its position in Antero Resources by 12.8% during the third quarter. Heartland Advisors Inc. now owns 48,259 shares of the oil and natural gas company’s stock worth $1,620,000 after buying an additional 5,466 shares during the last quarter. GSA Capital Partners LLP raised its stake in Antero Resources by 108.9% in the third quarter. GSA Capital Partners LLP now owns 26,748 shares of the oil and natural gas company’s stock valued at $898,000 after buying an additional 13,941 shares during the period. Finally, Rothschild Investment LLC raised its stake in Antero Resources by 28,176.0% in the third quarter. Rothschild Investment LLC now owns 7,069 shares of the oil and natural gas company’s stock valued at $237,000 after buying an additional 7,044 shares during the period. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen downgraded Antero Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Morgan Stanley cut their price target on Antero Resources from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Benchmark reaffirmed a “hold” rating on shares of Antero Resources in a research report on Thursday, January 15th. Roth Mkm reiterated a “neutral” rating and issued a $36.00 price objective on shares of Antero Resources in a report on Monday, December 8th. Finally, Zacks Research raised shares of Antero Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.93.

Antero Resources Stock Performance

AR opened at $35.54 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The business has a fifty day simple moving average of $33.87 and a 200 day simple moving average of $33.40. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $44.01. The company has a market capitalization of $10.96 billion, a PE ratio of 17.59 and a beta of 0.55.

Antero Resources (NYSE:AR) last posted its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. Research analysts expect that Antero Resources Corporation will post 2.74 EPS for the current year.

Antero Resources Company 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.