M&T Bank Corp Boosts Position in Antero Resources Corporation $AR

M&T Bank Corp increased its holdings in shares of Antero Resources Corporation (NYSE:AR) by 155.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 49,318 shares of the oil and natural gas company’s stock after acquiring an additional 29,989 shares during the quarter. M&T Bank Corp’s holdings in Antero Resources were worth $1,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AR. Root Financial Partners LLC purchased a new stake in Antero Resources in the third quarter valued at approximately $26,000. Sunbelt Securities Inc. purchased a new stake in Antero Resources in the third quarter valued at approximately $30,000. IFP Advisors Inc lifted 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 last quarter. Sound Income Strategies LLC lifted its stake in Antero Resources by 167.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,824 shares of the oil and natural gas company’s stock valued at $59,000 after buying an additional 1,143 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Antero Resources by 100.1% in the third quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company’s stock valued at $83,000 after buying an additional 1,244 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Insider Activity at Antero Resources

In other news, insider Yvette K. Schultz sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.33, for a total transaction of $589,950.00. Following the completion of the sale, the insider owned 319,122 shares in the company, valued at $12,551,068.26. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin A. Hardesty sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total value of $528,000.00. Following the sale, the director owned 150,242 shares of the company’s stock, valued at $6,610,648. This trade represents a 7.40% decrease in their position. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AR shares. Benchmark upgraded Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, March 5th. Truist Financial started coverage on Antero Resources in a research note on Tuesday, March 24th. They issued a “buy” rating and a $56.00 price objective for the company. TD Cowen upgraded Antero Resources to a “strong-buy” rating in a research note on Monday, February 9th. UBS Group boosted their price objective on Antero Resources from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Bank of America boosted their price objective on Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.56.

Antero Resources Price Performance

Antero Resources stock opened at $38.52 on Wednesday. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. 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 50 day simple moving average of $38.98 and a 200-day simple moving average of $35.64. The stock has a market capitalization of $11.93 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.37 and a beta of 0.42.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts predict that Antero Resources Corporation will post 4.05 earnings per share for the current year.

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.