Antero Resources Corporation $AR Stake Reduced by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its position in Antero Resources Corporation (NYSE:AR) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,571 shares of the oil and natural gas company’s stock after selling 19,823 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.05% of Antero Resources worth $5,361,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Eastern Bank acquired a new stake in shares of Antero Resources during the 2nd quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Antero Resources during the 2nd quarter valued at $29,000. Rakuten Securities Inc. bought a new position in Antero Resources during the second quarter worth $31,000. PenderFund Capital Management Ltd. bought a new position in Antero Resources during the second quarter worth $36,000. Finally, McIlrath & Eck LLC bought a new position in Antero Resources during the first quarter worth $53,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on AR. Raymond James Financial lifted their price target on shares of Antero Resources from $50.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 1st. Citigroup increased their price objective on shares of Antero Resources from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Weiss Ratings upgraded Antero Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. Stifel Nicolaus started coverage on Antero Resources in a research note on Thursday, September 10th. They issued a “hold” rating and a $42.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Antero Resources from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.74.

Antero Resources Price Performance

AR stock opened at $36.43 on Friday. The company has a market capitalization of $11.19 billion, a P/E ratio of 8.22 and a beta of 0.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.39 and a current ratio of 0.39. Antero Resources Corporation has a 52-week low of $31.15 and a 52-week high of $45.75. The business has a 50-day simple moving average of $37.60 and a two-hundred day simple moving average of $36.88.

Antero Resources Company Profile

Antero Resources Corporation is an independent energy company engaged in the development, production, exploration and acquisition of natural gas, natural gas liquids (NGLs) and oil. The company’s operations are focused primarily on the Appalachian Basin in the United States.

Antero Resources holds extensive interests in the Marcellus and Utica shale formations, with drilling and production activities concentrated in West Virginia and Ohio. Its product portfolio includes natural gas, ethane, propane, butane, natural gasoline and oil or condensate, which are marketed to domestic and international energy customers.

Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.