Castleark Management LLC Purchases Shares of 43,680 Antero Midstream Corporation $AM

Castleark Management LLC purchased a new position in Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,680 shares of the pipeline company’s stock, valued at approximately $994,000.

Other large investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of Antero Midstream in the second quarter valued at $30,000. Larson Financial Group LLC boosted its holdings in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares during the period. Arax Advisory Partners grew its stake in Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Shares of AM opened at $22.60 on Thursday. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.90 and a beta of 0.65. The firm’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $22.02. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is currently 107.14%.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AM. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.