Merewether Investment Management LP Trims Stock Position in Antero Resources Co. (NYSE:AR)

Merewether Investment Management LP trimmed its stake in shares of Antero Resources Co. (NYSE:AR) by 32.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,983,648 shares of the oil and natural gas company’s stock after selling 960,300 shares during the period. Antero Resources comprises 2.6% of Merewether Investment Management LP’s holdings, making the stock its 16th largest position. Merewether Investment Management LP owned approximately 0.64% of Antero Resources worth $56,832,000 as of its most recent filing with the Securities & Exchange Commission.

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

Antero Resources Stock Performance

Shares of AR opened at $32.10 on Wednesday. Antero Resources Co. has a 1 year low of $20.10 and a 1 year high of $36.28. The stock has a market capitalization of $9.99 billion, a PE ratio of 229.29 and a beta of 3.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50-day simple moving average of $29.41 and a 200-day simple moving average of $29.92.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AR. Barclays decreased 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 note on Thursday, October 3rd. Bank of America started coverage on Antero Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company reduced their price objective on Antero Resources from $25.00 to $24.00 and set an “underweight” rating for the company in a research note on Friday, October 18th. BMO Capital Markets upped their price target on Antero Resources from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, StockNews.com upgraded Antero Resources to a “sell” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.50.

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.