Envestnet Asset Management Inc. Buys 12,131 Shares of Antero Resources Corporation (NYSE:AR)

Envestnet Asset Management Inc. increased its stake in Antero Resources Corporation (NYSE:AR) by 40.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,816 shares of the oil and natural gas company’s stock after purchasing an additional 12,131 shares during the period. Envestnet Asset Management Inc.’s holdings in Antero Resources were worth $1,691,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in Antero Resources in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in Antero Resources in the fourth quarter valued at about $35,000. Bessemer Group Inc. grew its position in Antero Resources by 64.7% in the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company’s stock valued at $42,000 after acquiring an additional 411 shares during the last quarter. North Star Investment Management Corp. bought a new position in Antero Resources in the first quarter valued at about $44,000. Finally, Sunbelt Securities Inc. bought a new position in Antero Resources in the first quarter valued at about $56,000. Institutional investors own 83.04% of the company’s stock.

Wall Street Analyst Weigh In

AR has been the topic of a number of recent analyst reports. Raymond James Financial lifted their target price on Antero Resources from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 22nd. UBS Group lifted their target price on Antero Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Bank of America lifted their target price on Antero Resources from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Mizuho upgraded Antero Resources from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $47.00 to $49.00 in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on Antero Resources from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.18.

Insider Buying and Selling

In other Antero Resources news, insider Yvette K. Schultz sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $39.86, for a total value of $1,004,472.00. Following the transaction, the insider directly owned 306,819 shares of the company’s stock, valued at approximately $12,229,805.34. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Howard Keenan, Jr. sold 1,061,987 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.82, for a total value of $43,350,309.34. Following the completion of the transaction, the director directly owned 38,013 shares in the company, valued at approximately $1,551,690.66. This trade represents a 96.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,125,200 shares of company stock worth $45,887,466. 6.70% of the stock is owned by insiders.

Antero Resources Price Performance

Antero Resources stock opened at $33.91 on Thursday. The stock’s 50 day moving average is $38.03 and its 200 day moving average is $37.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $10.53 billion, a P/E ratio of 39.43 and a beta of 0.68. Antero Resources Corporation has a one year low of $24.53 and a one year high of $44.01.

Antero Resources (NYSE:AR) last posted its quarterly earnings data on Wednesday, April 30th. The oil and natural gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.28 billion. Antero Resources had a return on equity of 4.01% and a net margin of 5.96%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. As a group, research analysts expect that Antero Resources Corporation will post 2.74 EPS for the current year.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.