Bank of New York Mellon Corp Raises Stake in Antero Resources Corporation $AR

Bank of New York Mellon Corp lifted its stake in Antero Resources Corporation (NYSE:AR) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,478,218 shares of the oil and natural gas company’s stock after purchasing an additional 377,010 shares during the period. Bank of New York Mellon Corp’s holdings in Antero Resources were worth $147,616,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. bought a new position in Antero Resources in the 3rd quarter worth about $30,000. IFP Advisors Inc raised its stake in shares of Antero Resources by 59.2% during the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 345 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Antero Resources during the fourth quarter valued at approximately $41,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Antero Resources in the fourth quarter valued at approximately $44,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Antero Resources in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AR shares. Roth Capital restated a “neutral” rating and set a $38.00 price objective on shares of Antero Resources in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their target price on Antero Resources from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Citigroup increased their price target on Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Truist Financial cut their price target on Antero Resources from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, UBS Group decreased their price objective on Antero Resources from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.12.

Antero Resources Trading Down 0.1%

AR opened at $33.54 on Monday. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 10.89 and a beta of 0.33. 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 Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. The stock has a fifty day moving average price of $35.36 and a 200-day moving average price of $36.33.

Insider Buying and Selling at Antero Resources

In other Antero Resources news, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.27, for a total value of $1,550,772.30. Following the completion of the sale, the insider directly owned 277,665 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the transaction, the insider directly owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. The trade was a 14.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

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.