Geode Capital Management LLC Cuts Stock Position in Antero Resources Corporation $AR

Geode Capital Management LLC lessened its stake in Antero Resources Corporation (NYSE:AR) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,344,559 shares of the oil and natural gas company’s stock after selling 133,945 shares during the period. Geode Capital Management LLC’s holdings in Antero Resources were worth $184,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC purchased a new position in Antero Resources in the fourth quarter valued at about $611,000. Hantz Financial Services Inc. grew its stake in shares of Antero Resources by 29.7% during the fourth quarter. Hantz Financial Services Inc. now owns 170,073 shares of the oil and natural gas company’s stock worth $5,861,000 after acquiring an additional 38,939 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Antero Resources by 25.0% during the fourth quarter. William Blair Investment Management LLC now owns 626,420 shares of the oil and natural gas company’s stock worth $21,586,000 after acquiring an additional 125,136 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Antero Resources by 38.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,909 shares of the oil and natural gas company’s stock worth $204,000 after acquiring an additional 1,656 shares during the last quarter. Finally, Evoke Wealth LLC grew its stake in shares of Antero Resources by 99.0% during the fourth quarter. Evoke Wealth LLC now owns 17,358 shares of the oil and natural gas company’s stock worth $598,000 after acquiring an additional 8,636 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 related news, 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 in the company, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yvette K. Schultz sold 39,490 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were 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 owned 277,665 shares in the company, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 252,316 shares of company stock worth $9,977,259 over the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their price target on Antero Resources from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Citigroup boosted their price target on Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. UBS Group boosted their price target on Antero Resources from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Truist Financial assumed coverage on Antero Resources in a research note on Tuesday, March 24th. They set a “buy” rating and a $56.00 price target on the stock. Finally, Bank of America boosted their price target on Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.06.

Antero Resources Price Performance

Shares of NYSE AR opened at $36.56 on Thursday. The business’s 50 day moving average price is $38.40 and its 200 day moving average price is $36.42. The firm has a market cap of $11.33 billion, a P/E ratio of 11.87 and a beta of 0.33. Antero Resources Corporation has a 52 week low of $29.10 and a 52 week high of $45.75. The company has a quick ratio of 0.40, a current 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.