Merewether Investment Management LP Reduces Holdings in Antero Resources Co. (NYSE:AR)

Merewether Investment Management LP reduced its stake in shares of Antero Resources Co. (NYSE:AR) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983,648 shares of the oil and natural gas company’s stock after selling 960,300 shares during the quarter. Antero Resources comprises approximately 2.6% of Merewether Investment Management LP’s portfolio, making the stock its 16th largest holding. Merewether Investment Management LP’s holdings in Antero Resources were worth $56,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. grew its position in Antero Resources by 357.3% during the 3rd quarter. UMB Bank n.a. now owns 878 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 686 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Antero Resources during the third quarter worth about $30,000. Capital Performance Advisors LLP acquired a new position in Antero Resources in the 3rd quarter valued at about $45,000. Mattson Financial Services LLC purchased a new stake in Antero Resources during the 2nd quarter valued at approximately $64,000. Finally, GAMMA Investing LLC grew its stake in shares of Antero Resources by 27.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,012 shares of the oil and natural gas company’s stock valued at $98,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AR shares. The Goldman Sachs Group reduced their target price on shares of Antero Resources from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Roth Mkm assumed coverage on Antero Resources in a report on Tuesday, August 27th. They issued a “buy” rating and a $32.00 price objective on the stock. UBS Group cut their target price on Antero Resources from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on Antero Resources from $37.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Antero Resources Stock Up 1.0 %

Shares of NYSE:AR opened at $32.10 on Wednesday. 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 company has a market capitalization of $9.99 billion, a P/E ratio of 229.29 and a beta of 3.42. Antero Resources Co. has a 52-week low of $20.10 and a 52-week high of $36.28. The stock’s fifty day simple moving average is $29.41 and its 200-day simple moving average is $29.92.

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.