HITE Hedge Asset Management LLC Buys 804,851 Shares of Antero Resources Co. (NYSE:AR)

HITE Hedge Asset Management LLC boosted its position in Antero Resources Co. (NYSE:AR) by 537.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 954,685 shares of the oil and natural gas company’s stock after purchasing an additional 804,851 shares during the period. Antero Resources makes up about 3.2% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 8th largest holding. HITE Hedge Asset Management LLC’s holdings in Antero Resources were worth $27,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vaughan Nelson Investment Management L.P. raised its stake in shares of Antero Resources by 269.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,967,300 shares of the oil and natural gas company’s stock valued at $129,453,000 after acquiring an additional 2,893,395 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Antero Resources by 488.7% during the 2nd quarter. Natixis Advisors LLC now owns 1,428,864 shares of the oil and natural gas company’s stock valued at $46,624,000 after acquiring an additional 1,186,163 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Antero Resources by 7,781.2% in the second quarter. Acadian Asset Management LLC now owns 953,859 shares of the oil and natural gas company’s stock valued at $31,113,000 after buying an additional 941,756 shares in the last quarter. Kailix Advisors LLC bought a new stake in shares of Antero Resources in the third quarter worth $17,327,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Antero Resources during the second quarter valued at about $17,307,000. 83.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AR has been the topic of a number of recent analyst reports. Scotiabank raised shares of Antero Resources from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $40.00 to $44.00 in a report on Tuesday, August 20th. Wolfe Research upgraded shares of Antero Resources from a “peer perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a report on Wednesday, September 11th. UBS Group cut their target price on shares of Antero Resources from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Barclays reduced their price target on shares of Antero Resources from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Mizuho reduced their target price on Antero Resources from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.50.

Antero Resources Stock Down 2.8 %

Shares of NYSE:AR opened at $31.79 on Tuesday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 227.07 and a beta of 3.42. Antero Resources Co. has a 12-month low of $20.10 and a 12-month high of $36.28. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $29.33 and its 200 day moving average is $29.94.

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.