Raymond James Financial Services Advisors Inc. trimmed its position in Antero Resources Co. (NYSE:AR – Free Report) by 27.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,479 shares of the oil and natural gas company’s stock after selling 6,745 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Antero Resources were worth $403,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its position in shares of Antero Resources by 195.2% during the 1st quarter. Belpointe Asset Management LLC now owns 1,553 shares of the oil and natural gas company’s stock valued at $36,000 after acquiring an additional 1,027 shares during the period. Tucker Asset Management LLC bought a new position in Antero Resources in the 1st quarter worth approximately $40,000. US Bancorp DE boosted its holdings in Antero Resources by 3,532.9% in the 1st quarter. US Bancorp DE now owns 2,543 shares of the oil and natural gas company’s stock worth $78,000 after buying an additional 2,473 shares during the period. State of Wyoming bought a new position in Antero Resources in the 4th quarter worth approximately $93,000. Finally, FNY Investment Advisers LLC lifted its stake in Antero Resources by 50.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the oil and natural gas company’s stock worth $69,000 after purchasing an additional 1,000 shares in the last quarter. 80.20% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Antero Resources from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, October 2nd. Sanford C. Bernstein began coverage on shares of Antero Resources in a report on Tuesday, October 10th. They set a “market perform” rating and a $29.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Antero Resources from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. StockNews.com raised shares of Antero Resources to a “sell” rating in a research note on Wednesday, October 25th. Finally, TheStreet downgraded shares of Antero Resources from a “b-” rating to a “c+” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Antero Resources has an average rating of “Hold” and an average price target of $32.58.
Insider Transactions at Antero Resources
In other news, insider Sheri Pearce sold 3,460 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $29.92, for a total value of $103,523.20. Following the transaction, the insider now owns 105,596 shares in the company, valued at $3,159,432.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.95% of the company’s stock.
Antero Resources Price Performance
Shares of AR opened at $30.43 on Friday. The stock has a market cap of $9.15 billion, a PE ratio of 10.95 and a beta of 3.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.29. Antero Resources Co. has a fifty-two week low of $19.91 and a fifty-two week high of $40.19. The firm’s 50-day simple moving average is $26.85 and its two-hundred day simple moving average is $24.61.
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 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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