Principal Financial Group Inc. Reduces Holdings in Antero Resources Co. (NYSE:AR)

Principal Financial Group Inc. decreased its holdings in shares of Antero Resources Co. (NYSE:AR - Free Report) by 30.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 676,899 shares of the oil and natural gas company's stock after selling 295,845 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Antero Resources worth $19,393,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Antero Resources by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 28,066,610 shares of the oil and natural gas company's stock worth $813,932,000 after buying an additional 372,450 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Antero Resources by 269.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,967,300 shares of the oil and natural gas company's stock worth $129,453,000 after purchasing an additional 2,893,395 shares during the last quarter. Merewether Investment Management LP boosted its stake in Antero Resources by 4.6% in the 2nd quarter. Merewether Investment Management LP now owns 2,943,948 shares of the oil and natural gas company's stock valued at $96,061,000 after purchasing an additional 128,200 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Antero Resources by 17.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,541,813 shares of the oil and natural gas company's stock valued at $82,939,000 after buying an additional 381,310 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Antero Resources by 36.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,747,304 shares of the oil and natural gas company's stock valued at $50,060,000 after acquiring an additional 464,970 shares in the last quarter. Institutional investors own 83.04% of the company's stock.

Antero Resources Price Performance

NYSE:AR traded down $0.03 on Friday, reaching $30.38. 827,869 shares of the company's stock traded hands, compared to its average volume of 4,084,716. The stock has a 50-day simple moving average of $27.91 and a 200-day simple moving average of $30.10. Antero Resources Co. has a 12 month low of $20.10 and a 12 month high of $36.28. 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 firm has a market cap of $9.45 billion, a PE ratio of 217.21 and a beta of 3.36.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Bank of America started coverage on Antero Resources in a report on Monday, October 28th. They issued a "buy" rating and a $36.00 price objective for the company. Citigroup assumed coverage on Antero Resources in a research note on Tuesday, September 17th. They set a "neutral" rating and a $29.00 target price for the company. StockNews.com upgraded Antero Resources to a "sell" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. decreased their price objective on Antero Resources from $37.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Finally, UBS Group reduced their price objective on shares of Antero Resources from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Two research 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.83.

Antero Resources Company Profile

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.