Pitcairn Co. Increases Stock Holdings in Antero Resources Co. (NYSE:AR)

Pitcairn Co. grew its stake in shares of Antero Resources Co. (NYSE:AR) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,096 shares of the oil and natural gas company’s stock after acquiring an additional 2,088 shares during the quarter. Pitcairn Co.’s holdings in Antero Resources were worth $719,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AR. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Antero Resources by 10.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,378,849 shares of the oil and natural gas company’s stock worth $125,452,000 after purchasing an additional 411,549 shares during the period. Merewether Investment Management LP lifted its holdings in shares of Antero Resources by 4.6% during the 2nd quarter. Merewether Investment Management LP now owns 2,943,948 shares of the oil and natural gas company’s stock valued at $96,061,000 after acquiring an additional 128,200 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Antero Resources by 4.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,664,628 shares of the oil and natural gas company’s stock worth $76,342,000 after purchasing an additional 122,815 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Antero Resources by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,929,424 shares of the oil and natural gas company’s stock valued at $55,278,000 after purchasing an additional 27,617 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Antero Resources by 36.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,747,304 shares of the oil and natural gas company’s stock valued at $50,060,000 after purchasing an additional 464,970 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AR. JPMorgan Chase & Co. decreased their target price on Antero Resources from $37.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company dropped their price objective on shares of Antero Resources from $25.00 to $24.00 and set an “underweight” rating on the stock in a research note on Friday, October 18th. Scotiabank upgraded shares of Antero Resources from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $40.00 to $44.00 in a research note on Tuesday, August 20th. Raymond James lifted their price target on shares of Antero Resources from $34.00 to $44.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, Roth Capital raised shares of Antero Resources to a “strong-buy” rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Antero Resources has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Antero Resources Price Performance

Shares of NYSE AR opened at $33.11 on Monday. The business has a 50 day simple moving average of $28.68 and a 200-day simple moving average of $29.99. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. Antero Resources Co. has a twelve month low of $20.10 and a twelve month high of $36.28. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 236.50 and a beta of 3.36.

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.