Antero Resources Co. (NYSE:AR) Position Reduced by California State Teachers Retirement System

Posted by on Aug 19th, 2023

California State Teachers Retirement System cut its position in shares of Antero Resources Co. (NYSE:AR – Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 344,380 shares of the oil and natural gas company’s stock after selling 10,185 shares during the quarter. California State Teachers Retirement System owned 0.11% of Antero Resources worth $7,952,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AR. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Antero Resources in the fourth quarter worth approximately $214,000. Texas Permanent School Fund Corp increased its holdings in Antero Resources by 33.4% in the first quarter. Texas Permanent School Fund Corp now owns 247,630 shares of the oil and natural gas company’s stock worth $5,718,000 after buying an additional 61,994 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Antero Resources by 7.3% in the first quarter. Treasurer of the State of North Carolina now owns 132,079 shares of the oil and natural gas company’s stock worth $3,050,000 after buying an additional 8,980 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Antero Resources by 122.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,890 shares of the oil and natural gas company’s stock worth $90,000 after buying an additional 1,590 shares during the last quarter. Finally, Miura Global Management LLC acquired a new position in Antero Resources during the fourth quarter valued at approximately $5,547,000. 79.64% of the stock is owned by hedge funds and other institutional investors.

Antero Resources Stock Performance

Shares of NYSE:AR opened at $27.09 on Friday. Antero Resources Co. has a twelve month low of $19.91 and a twelve month high of $45.33. The firm has a market cap of $8.14 billion, a PE ratio of 6.10 and a beta of 3.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.26 and a current ratio of 0.26. The business has a fifty day moving average of $24.33 and a 200-day moving average of $23.87.

Antero Resources (NYSE:AR – Get Free Report) last announced its earnings results on Thursday, July 27th. The oil and natural gas company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The company had revenue of $953.31 million during the quarter, compared to analyst estimates of $935.87 million. Antero Resources had a return on equity of 13.17% and a net margin of 21.81%. The firm’s quarterly revenue was down 56.7% compared to the same quarter last year. During the same period last year, the company posted $1.69 earnings per share. On average, equities research analysts predict that Antero Resources Co. will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

AR has been the topic of several analyst reports. TheStreet downgraded Antero Resources from a “b-” rating to a “c+” rating in a report on Friday, July 28th. Truist Financial increased their price target on Antero Resources from $28.00 to $31.00 in a report on Monday, July 24th. The Goldman Sachs Group raised their price objective on shares of Antero Resources from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Benchmark lowered their price objective on shares of Antero Resources from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, July 14th. Finally, Mizuho reduced their target price on Antero Resources from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.50.

Read Our Latest Research Report on AR

About Antero Resources

(Free Report)

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 through three segments: Exploration, Development and Production of Natural Gas, NGLs and Oil; Marketing and Utilization of Excess Firm Transportation Capacity; and Midstream Services Through Our Equity Method Investment in Antero Midstream.

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Institutional Ownership by Quarter for Antero Resources (NYSE:AR)

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