Synovus Financial Corp Invests $561,000 in Antero Resources Corporation $AR

Synovus Financial Corp purchased a new position in shares of Antero Resources Corporation (NYSE:AR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,712 shares of the oil and natural gas company’s stock, valued at approximately $561,000.

Several other large investors also recently made changes to their positions in AR. Neo Ivy Capital Management bought a new position in shares of Antero Resources in the second quarter worth about $532,000. Stephens Investment Management Group LLC grew its stake in shares of Antero Resources by 4.5% during the third quarter. Stephens Investment Management Group LLC now owns 1,185,601 shares of the oil and natural gas company’s stock valued at $39,789,000 after purchasing an additional 51,126 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Antero Resources by 103.8% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 436,476 shares of the oil and natural gas company’s stock valued at $14,648,000 after purchasing an additional 222,311 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Antero Resources in the second quarter valued at approximately $3,015,000. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Antero Resources by 43.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 595,608 shares of the oil and natural gas company’s stock worth $19,989,000 after buying an additional 180,390 shares in the last quarter. Institutional investors own 83.04% of the company’s stock.

Antero Resources Stock Performance

Shares of Antero Resources stock opened at $35.54 on Monday. 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 firm has a market cap of $10.96 billion, a price-to-earnings ratio of 17.59 and a beta of 0.55. The stock’s 50-day moving average is $33.87 and its 200-day moving average is $33.40. Antero Resources Corporation has a one year low of $29.10 and a one year high of $44.01.

Antero Resources (NYSE:AR) last posted its quarterly earnings data on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. Equities analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AR shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $39.00 target price (down previously from $44.00) on shares of Antero Resources in a research report on Monday, December 8th. Zacks Research raised Antero Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Tudor Pickering upgraded shares of Antero Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Bank of America raised their price target on Antero Resources from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Antero Resources in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.93.

About Antero Resources

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.