Louisiana State Employees Retirement System Makes New Investment in Antero Resources Corporation $AR

Louisiana State Employees Retirement System purchased a new stake in Antero Resources Corporation (NYSE:AR) during the first quarter, HoldingsChannel.com reports. The fund purchased 85,000 shares of the oil and natural gas company’s stock, valued at approximately $3,607,000.

Several other institutional investors have also recently bought and sold shares of AR. NewEdge Advisors LLC lifted its position in shares of Antero Resources by 16,498.3% during the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after purchasing an additional 9,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Antero Resources by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock worth $23,882,000 after acquiring an additional 43,312 shares during the period. Focus Partners Wealth raised its stake in Antero Resources by 18.9% during the 1st quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock valued at $806,000 after purchasing an additional 3,169 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Antero Resources by 701.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock worth $120,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Antero Resources by 22.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company’s stock worth $1,470,000 after purchasing an additional 6,700 shares during the period. Institutional investors own 83.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AR. Morgan Stanley lifted their target price on Antero Resources from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Texas Capital upgraded Antero Resources to a “strong-buy” rating in a research note on Thursday. Barclays raised their target price on Antero Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Research lowered shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Benchmark upgraded shares of Antero Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.38.

Antero Resources Stock Performance

Shares of NYSE:AR opened at $35.15 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The business’s fifty day moving average price is $36.35 and its two-hundred day moving average price is $36.36. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 11.41 and a beta of 0.33.

Insider Activity

In related news, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the completion of the sale, the insider owned 1,085,192 shares in the company, valued at $42,680,601.36. This trade represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares of the company’s stock, valued at $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.10% of the stock is currently owned by corporate insiders.

About Antero Resources

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.