Antero Resources Co. (NYSE:AR) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in Antero Resources Co. (NYSE:AR) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 69,400 shares of the oil and natural gas company’s stock after acquiring an additional 1,600 shares during the quarter. State of Michigan Retirement System’s holdings in Antero Resources were worth $2,013,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Antero Resources by 1,311.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 960 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 892 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Antero Resources by 81.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,479 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 664 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Antero Resources in the first quarter worth about $37,000. Planned Solutions Inc. acquired a new position in Antero Resources during the fourth quarter worth about $45,000. Finally, Quadrant Capital Group LLC raised its holdings in Antero Resources by 28.0% in the 4th 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. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AR shares. Scotiabank boosted their target price on Antero Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. StockNews.com upgraded Antero Resources to a “sell” rating in a report on Friday, April 26th. Mizuho lifted their price target on Antero Resources from $29.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. The Goldman Sachs Group boosted their price target on shares of Antero Resources from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Truist Financial cut their price objective on shares of Antero Resources from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Insider Activity

In related news, Director W Howard Keenan, Jr. sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $34.53, for a total transaction of $3,453,000.00. Following the sale, the director now directly owns 2,900,000 shares in the company, valued at $100,137,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Antero Resources news, insider Michael N. Kennedy sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $33.72, for a total value of $1,686,000.00. Following the sale, the insider now directly owns 1,032,251 shares in the company, valued at $34,807,503.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director W Howard Keenan, Jr. sold 100,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $34.53, for a total value of $3,453,000.00. Following the transaction, the director now directly owns 2,900,000 shares of the company’s stock, valued at $100,137,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 476,377 shares of company stock worth $16,326,084. 6.70% of the stock is currently owned by company insiders.

Antero Resources Stock Performance

Shares of AR stock opened at $33.30 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $10.35 billion, a P/E ratio of 166.50 and a beta of 3.39. The firm’s 50 day moving average price is $33.79 and its 200-day moving average price is $28.17. Antero Resources Co. has a one year low of $20.10 and a one year high of $36.28.

Antero Resources (NYSE:AR) last announced its earnings results on Wednesday, April 24th. The oil and natural gas company reported $0.03 earnings per share (EPS) for the quarter. Antero Resources had a return on equity of 0.18% and a net margin of 1.50%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, equities research analysts predict that Antero Resources Co. will post 0.36 EPS for the current year.

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.