15 Small-Cap Energy Stocks Hedge Funds Are Buying

2. Antero Resources Corporation (NYSE:AR)

Market Capitalization as of April 25: $10.99 billion

Number of Hedge Fund Holders: 66

Antero Resources Corp. (NYSE:AR) is an independent oil and natural gas company that develops, produces, explores, and acquires natural gas, NGLs, and oil properties in the US. It operates in three segments: Exploration & Production, Marketing, and Equity Method Investment in Antero Midstream.

Antero Resources Corporation’s (NYSE:AR) domestic marketing efforts add to its pricing. It sells products to key distributors and end-users, which ensures premium pricing. In 2024, it realized a $1.41 per barrel premium over Mont Belvieu for its C3 plus NGLs, which was the highest in the company’s history. This was amplified in Q4, with premiums averaging $3.09 per barrel. For 2025, Antero Resources Corporation (NYSE:AR) anticipates even higher annual export premiums and projects a range of $1.50-$2.50 per barrel premium to Mont Belvieu prices for its C3 plus NGLs.

Antero Resources Corporation (NYSE:AR) also invested $22 million in land during the quarter, adding ~4,200 net acres and representing 15 incremental drilling locations. In 2025, the company has notably secured favorable pricing for almost all domestic propane sales and a substantial portion of export sales. A long-term butane contract, which was previously priced at a steep discount, has also been renegotiated to nearly Mont Belvieu flat pricing.