Purpose Unlimited Inc. Purchases Shares of 18,718 Antero Resources Corporation $AR

Purpose Unlimited Inc. acquired a new position in shares of Antero Resources Corporation (NYSE:AR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,718 shares of the oil and natural gas company’s stock, valued at approximately $645,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in Antero Resources during the third quarter worth about $30,000. IFP Advisors Inc raised its stake in Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 345 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Antero Resources in the fourth quarter valued at approximately $41,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Antero Resources in the fourth quarter valued at approximately $44,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Antero Resources during the 4th quarter worth approximately $45,000. 83.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Antero Resources

In other news, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. This trade represents a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of Antero Resources stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.33, for a total value of $7,308,536.58. Following the sale, the insider directly owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. This represents a 14.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

AR has been the topic of a number of recent analyst reports. Weiss Ratings lowered Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Mizuho lifted their price objective on shares of Antero Resources from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Bank of America lifted their price objective on shares of Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Zacks Research lowered shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Citigroup raised their target price on shares of Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.06.

Antero Resources Stock Performance

NYSE:AR opened at $33.23 on Monday. The stock has a 50 day simple moving average of $36.61 and a 200 day simple moving average of $36.42. The stock has a market cap of $10.30 billion, a P/E ratio of 10.79 and a beta of 0.33. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32.

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.