Public Employees Retirement Association of Colorado Trims Stake in Antero Resources Corp (NYSE:AR)
Public Employees Retirement Association of Colorado reduced its position in Antero Resources Corp (NYSE:AR) by 90.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,706 shares of the oil and natural gas company’s stock after selling 231,600 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Antero Resources were worth $78,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in shares of Antero Resources in the second quarter worth $65,000. Sanders Morris Harris LLC boosted its stake in Antero Resources by 22.7% in the second quarter. Sanders Morris Harris LLC now owns 81,000 shares of the oil and natural gas company’s stock valued at $445,000 after acquiring an additional 15,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Antero Resources by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the oil and natural gas company’s stock valued at $35,000 after acquiring an additional 3,200 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in Antero Resources in the second quarter valued at approximately $155,000. Finally, Cerebellum GP LLC boosted its stake in Antero Resources by 2,282.5% in the second quarter. Cerebellum GP LLC now owns 61,850 shares of the oil and natural gas company’s stock valued at $342,000 after acquiring an additional 59,254 shares in the last quarter. 96.17% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on AR shares. National Bank Financial raised their target price on shares of Antero Resources from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley downgraded shares of Antero Resources from an “equal” rating to a “weight” rating and lowered their target price for the company from $3.25 to $1.50 in a research note on Friday, October 4th. Mitsubishi UFJ Financial Group restated a “neutral” rating and issued a $3.00 target price (down from $6.00) on shares of Antero Resources in a research note on Tuesday, October 8th. Macquarie upgraded shares of Antero Resources from an “underperform” rating to a “neutral” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. Finally, Cfra downgraded shares of Antero Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $8.88.
Antero Resources (NYSE:AR) last posted its earnings results on Tuesday, October 29th. The oil and natural gas company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.19). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $988.92 million. Antero Resources had a negative net margin of 20.96% and a positive return on equity of 0.32%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Research analysts expect that Antero Resources Corp will post -0.39 earnings per share for the current year.
About Antero Resources
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.
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