PNC Financial Services Group Inc. Sells 6,916 Shares of Antero Resources Co. (NYSE:AR)

PNC Financial Services Group Inc. decreased its holdings in Antero Resources Co. (NYSE:AR) by 40.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,209 shares of the oil and natural gas company’s stock after selling 6,916 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Antero Resources were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Antero Resources in the fourth quarter worth approximately $140,020,000. HITE Hedge Asset Management LLC raised its position in Antero Resources by 537.2% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 954,685 shares of the oil and natural gas company’s stock valued at $27,352,000 after buying an additional 804,851 shares during the last quarter. Wellington Management Group LLP lifted its stake in Antero Resources by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 17,460,062 shares of the oil and natural gas company’s stock valued at $500,231,000 after acquiring an additional 675,053 shares in the last quarter. Van ECK Associates Corp lifted its stake in Antero Resources by 43.1% during the 4th quarter. Van ECK Associates Corp now owns 745,770 shares of the oil and natural gas company’s stock valued at $26,139,000 after acquiring an additional 224,700 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Antero Resources by 40.6% during the 3rd quarter. Franklin Resources Inc. now owns 756,128 shares of the oil and natural gas company’s stock worth $21,209,000 after acquiring an additional 218,517 shares during the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AR shares. UBS Group raised their price target on shares of Antero Resources from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays lifted their target price on shares of Antero Resources from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Citigroup upped their target price on Antero Resources from $29.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial lifted their price target on Antero Resources from $28.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Antero Resources from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Antero Resources presently has an average rating of “Moderate Buy” and an average target price of $41.06.

Antero Resources Stock Performance

Shares of AR opened at $40.96 on Friday. Antero Resources Co. has a 12-month low of $24.53 and a 12-month high of $41.53. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.21. The company has a market cap of $12.75 billion, a PE ratio of 128.00 and a beta of 3.38. The stock has a 50-day moving average price of $38.33 and a 200-day moving average price of $32.89.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, February 12th. The oil and natural gas company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Antero Resources had a net margin of 2.31% and a return on equity of 0.74%. As a group, equities analysts forecast that Antero Resources Co. will post 2.74 earnings per share for the current fiscal year.

Insider Activity at Antero Resources

In other Antero Resources news, Director W Howard Keenan, Jr. sold 200,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $39.76, for a total value of $7,952,000.00. Following the completion of the sale, the director now directly owns 1,800,000 shares of the company’s stock, valued at $71,568,000. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.70% of the stock is owned by insiders.

About Antero Resources

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.