Raymond James Financial Services Advisors Inc. has recently disclosed their reduction of holdings in Antero Resources Co. by a significant 19.2% during the fourth quarter of the fiscal year, according to their most recent disclosure with the Securities & Exchange Commission. The institutional investor reported owning 54,068 shares of the oil and natural gas company’s stock, worth $1,676,000 as of its recent filing.
This unexpected move by Raymond James Financial Services Advisors Inc. has left many industry experts perplexed over what might have led to such a decision. However, it must be noted that Antero Resources last released its quarterly earnings data on April 26th and had reported lower than expected earnings per share for the quarter – $0.48 as opposed to analysts’ consensus estimates of $0.54.
Despite this setback, Antero Resources Corp., however, remains a significant player in the development, production, exploration and acquisition of natural gas. Operating under three segments: Exploration and Production; Marketing; and Equity Method Investment in Antero Midstream – it has consistently shown growth prospects within its operational sectors.
The firm’s Exploration and Production segment involves developing and producing natural gas, NGLs (Natural Gas Liquids), and oil – which is then marketed through its marketing division for accessibility across various key regions in America. Additionally, equity method investment in Antero Midstream enables them to capitalize on further business coverage into midstream services across their operating regions.
As we move deeper into the current fiscal year, equities analysts reveal that they anticipate Antero Resources Co.’s year-end earnings per share is expected to reach 1.62 -signifying great potential within market proceedings for investors looking at long-term investments opportunities.
In conclusion,Antero Resources exhibits great potential within various markets as analyzed by industry experts despite recent setbacks observed earlier this year resulting from low Q4 profits. Nonetheless,it’s a great place for long-term investment opportunities if you’re judging based on its recurring growth prospects evidenced by its resilient and lucrative operating systems.
Institutional Investors Increase Stakes in Antero Resources Corp Despite Rating Downgrades
Antero Resources Corp. is a leading natural gas development company that specializes in the production, exploration, and acquisition of natural gas. The company operates through three segments: Exploration and Production, Marketing, and Equity Method Investment in Antero Midstream.
Institutional investors have shown confidence in Antero Resources by increasing their stakes in the company. Nisa Investment Advisors LLC has increased its stake by 0.4%, now owning 104,998 shares worth $3.22 million after acquiring an additional 370 shares last quarter. Captrust Financial Advisors lifted its holdings by 1.4% to own 30,771 shares valued at $939,000 while Sanders Morris Harris LLC boosted its position by 2.2% owning19,951 shares worth $618 thousand respectively.
Fifth Third Bancorp also grew its stake in Antero Resources with an increase of 14.4%, owning 3,774 shares worth $117 thousand after buying an additional424 shares during the last quarter.Pin Oak InvestmentAdvisors also showed commitment towardsthe firm’s growth as it increased its positionby 1.5% during the third quarter, now owning34,113 shares worth $1.04 million.
The company started trading on Friday with a price of$22.54and has a market capitalization of$6.77 billion with P/E ratio of 3.22and a betaof3.46.During a period of one year,the stock experienceda low of$20.06 anda highof$48.80.However,the fifty day moving average price stands at $22.54,andthe200-daymoving average price being at$27.69.These pointers indicate that certain institutional investors are confident about Antero Resource’s prospects.
Despite positive growth over the years,the stockhas been subjected to several ratingdowngrades from some research analysts this year.Morgan Stanley downgradedtheirprice target from $25.00 to$24.00 in a note on May 15th, while Benchmark and TD Securitiescut their price targets from $40 to $36 and from $50 to $46, respectively.
Michael N. Kennedy, an insider of the company, sold 150,000 shares of holdin Antero Resources on May 5th at an average price of $21.07. A totalvalue of$3,160,500 was made from the sale which reducedhis shareholding in the company by a small margin. Despite this sale,the insider still owns941,832 shares worth$19,844,400.24 as of the last filing with SEC.We can expect continued changes in institutional ownership going forwardto reflect changes in investors’ sentiments regarding regulatory policies and fluctuating market prices.
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