Truist Financial Corp Decreases Position in Antero Resources Corporation $AR

Truist Financial Corp cut its position in Antero Resources Corporation (NYSE:AR) by 72.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,968 shares of the oil and natural gas company’s stock after selling 49,323 shares during the period. Truist Financial Corp’s holdings in Antero Resources were worth $654,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Root Financial Partners LLC purchased a new position in Antero Resources in the third quarter worth about $26,000. Sunbelt Securities Inc. purchased a new position in Antero Resources in the third quarter worth about $30,000. IFP Advisors Inc raised its holdings in Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 345 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Antero Resources by 167.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,824 shares of the oil and natural gas company’s stock worth $59,000 after buying an additional 1,143 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in Antero Resources by 100.1% in the third quarter. Clearstead Advisors LLC now owns 2,487 shares of the oil and natural gas company’s stock worth $83,000 after buying an additional 1,244 shares during the last quarter. 83.04% of the stock is owned by hedge funds and other institutional investors.

Antero Resources Stock Performance

Shares of AR stock opened at $38.35 on Tuesday. The company has a 50 day moving average price of $39.40 and a 200-day moving average price of $36.11. Antero Resources Corporation has a 52 week low of $29.10 and a 52 week high of $45.75. The firm has a market capitalization of $11.88 billion, a PE ratio of 12.45 and a beta of 0.36. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

AR has been the subject of several recent analyst reports. Weiss Ratings raised shares of Antero Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Barclays lifted their price target on shares of Antero Resources from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Williams Trading set a $56.00 price target on shares of Antero Resources in a research note on Monday, April 20th. Truist Financial initiated coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Antero Resources from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Five research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Antero Resources has a consensus rating of “Buy” and a consensus target price of $49.63.

Insider Activity at Antero Resources

In related news, Director Benjamin A. Hardesty sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $44.00, for a total transaction of $528,000.00. Following the completion of the sale, the director directly owned 150,242 shares in the company, valued at approximately $6,610,648. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 185,826 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the sale, the insider owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 252,316 shares of company stock worth $9,977,259. 6.30% of the stock is owned by company insiders.

Antero Resources Profile

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.