Confluence Investment Management LLC Buys 616 Shares of Antero Resources Co. (NYSE:AR)

Confluence Investment Management LLC increased its stake in shares of Antero Resources Co. (NYSE:AR) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,499 shares of the oil and natural gas company’s stock after acquiring an additional 616 shares during the quarter. Confluence Investment Management LLC’s holdings in Antero Resources were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its stake in Antero Resources by 11.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,384 shares of the oil and natural gas company’s stock worth $98,000 after buying an additional 343 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Antero Resources by 35.1% in the 1st quarter. Lindbrook Capital LLC now owns 1,998 shares of the oil and natural gas company’s stock valued at $58,000 after purchasing an additional 519 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of 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 purchasing an additional 602 shares in the last quarter. Fund 1 Investments LLC boosted its stake in shares of Antero Resources by 2.0% in the 4th quarter. Fund 1 Investments LLC now owns 40,800 shares of the oil and natural gas company’s stock valued at $925,000 after purchasing an additional 800 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Antero Resources by 2.5% in the 4th quarter. Xponance Inc. now owns 34,724 shares of the oil and natural gas company’s stock valued at $788,000 after purchasing an additional 857 shares in the last quarter. Institutional investors own 83.04% of the company’s stock.

Insider Activity at Antero Resources

In other Antero Resources news, Director W Howard Keenan, Jr. sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Michael N. Kennedy sold 50,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $33.72, for a total transaction of $1,686,000.00. Following the completion of the transaction, the insider now owns 1,032,251 shares in the company, valued at approximately $34,807,503.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Howard Keenan, Jr. sold 100,000 shares of the 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 sale, the director now directly owns 2,900,000 shares in the company, valued at approximately $100,137,000. The disclosure for this sale can be found here. Insiders have sold 466,377 shares of company stock worth $15,989,384 over the last ninety days. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AR. Morgan Stanley upgraded shares of Antero Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $26.00 to $36.00 in a research report on Wednesday, April 17th. Barclays began coverage on Antero Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective for the company. Scotiabank boosted their price objective on Antero Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Mizuho boosted their price objective on Antero Resources from $29.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Wolfe Research initiated coverage on Antero Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Antero Resources presently has a consensus rating of “Hold” and a consensus price target of $33.69.

Antero Resources Price Performance

Antero Resources stock traded down $1.00 during midday trading on Monday, reaching $25.50. The company’s stock had a trading volume of 2,000,263 shares, compared to its average volume of 4,310,569. Antero Resources Co. has a 52 week low of $20.10 and a 52 week high of $36.28. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $32.33 and a 200-day moving average price of $29.39. The stock has a market cap of $7.93 billion, a PE ratio of 132.50 and a beta of 3.40.

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.