Bank of New York Mellon Corp Lowers Stake in Antero Resources Co. (NYSE:AR)

Bank of New York Mellon Corp lessened its stake in shares of Antero Resources Co. (NYSE:AR) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,824,719 shares of the oil and natural gas company’s stock after selling 1,015,971 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.52% of Antero Resources worth $255,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in Antero Resources by 1,311.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 960 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 892 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Antero Resources in the 1st quarter worth approximately $37,000. Lindbrook Capital LLC raised its stake in shares of Antero Resources by 81.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,479 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 664 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Antero Resources by 28.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,752 shares of the oil and natural gas company’s stock valued at $62,000 after acquiring an additional 602 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Antero Resources by 27.8% in the second quarter. GAMMA Investing LLC now owns 3,012 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 655 shares in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Antero Resources from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research assumed coverage on Antero Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group raised their price target on Antero Resources from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Scotiabank upgraded shares of Antero Resources from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $40.00 to $44.00 in a report on Tuesday, August 20th. Finally, Jefferies Financial Group lifted their target price on shares of Antero Resources from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.69.

Antero Resources Price Performance

NYSE:AR opened at $27.40 on Tuesday. The firm’s fifty day moving average is $30.01 and its two-hundred day moving average is $29.96. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 137.00 and a beta of 3.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Antero Resources Co. has a one year low of $20.10 and a one year high of $36.28.

Antero Resources (NYSE:AR) last issued its earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The company had revenue of $978.65 million during the quarter, compared to analysts’ expectations of $980.20 million. Antero Resources had a return on equity of 0.45% and a net margin of 1.88%. Research analysts expect that Antero Resources Co. will post 0.42 EPS for the current year.

Insider Transactions at Antero Resources

In related news, insider Yvette K. Schultz sold 50,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.24, for a total transaction of $1,262,000.00. Following the sale, the insider now directly owns 248,363 shares of the company’s stock, valued at $6,268,682.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.

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.