The Manufacturers Life Insurance Company Trims Stake in Antero Resources Co. (NYSE:AR)

The Manufacturers Life Insurance Company cut its position in shares of Antero Resources Co. (NYSE:AR) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,121 shares of the oil and natural gas company’s stock after selling 5,171 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Antero Resources worth $8,455,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in shares of Antero Resources by 357.3% during the third quarter. UMB Bank n.a. now owns 878 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 686 shares during the period. Capital Performance Advisors LLP bought a new position in Antero Resources in the 3rd quarter worth about $45,000. Mattson Financial Services LLC purchased a new position in shares of Antero Resources during the second quarter worth approximately $64,000. GAMMA Investing LLC increased its position in shares of Antero Resources by 27.8% during the second quarter. GAMMA Investing LLC now owns 3,012 shares of the oil and natural gas company’s stock worth $98,000 after acquiring an additional 655 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Antero Resources in the second quarter valued at approximately $137,000. 83.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AR shares. Scotiabank upgraded Antero Resources from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $40.00 to $44.00 in a report on Tuesday, August 20th. Truist Financial dropped their target price on shares of Antero Resources from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Barclays reduced their price target on shares of Antero Resources from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Mizuho dropped their price objective on shares of Antero Resources from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, StockNews.com raised shares of Antero Resources to a “sell” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Antero Resources currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Antero Resources Stock Performance

AR opened at $32.10 on Wednesday. The company has a market cap of $9.99 billion, a P/E ratio of 229.29 and a beta of 3.42. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $29.33 and its 200-day moving average price is $29.94. Antero Resources Co. has a 52-week low of $20.10 and a 52-week high of $36.28.

Antero Resources Profile

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.