Antero Resources Corp. (NYSE:AR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $31.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.59% from the company’s previous close.
According to Zacks, “Antero Resources Corporation is an independent oil and natural gas company. It is primarily engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. Antero Resources Corporation is headquartered in Denver, Colorado. “
AR has been the subject of several other reports. Credit Suisse Group AG reiterated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of Antero Resources Corp. in a report on Tuesday, June 14th. Evercore ISI cut Antero Resources Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 20th. Vetr upgraded Antero Resources Corp. from a “buy” rating to a “strong-buy” rating and set a $31.50 target price for the company in a report on Monday, July 18th. BMO Capital Markets reiterated a “buy” rating on shares of Antero Resources Corp. in a report on Monday, June 13th. Finally, Barclays PLC lowered their target price on Antero Resources Corp. from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $31.40.
Antero Resources Corp. (NYSE:AR) traded down 2.16% during midday trading on Tuesday, reaching $27.18. The company had a trading volume of 1,285,042 shares. The firm has a 50-day moving average of $26.74 and a 200 day moving average of $26.91. Antero Resources Corp. has a 1-year low of $18.50 and a 1-year high of $30.66. The company has a market capitalization of $8.35 billion, a P/E ratio of 83.89 and a beta of 1.09.
Antero Resources Corp. (NYSE:AR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Antero Resources Corp. had a return on equity of 1.19% and a net margin of 15.72%. The business earned $376.70 million during the quarter, compared to analysts’ expectations of $676.46 million. During the same period in the prior year, the business earned $0.06 EPS. On average, equities research analysts forecast that Antero Resources Corp. will post $0.10 EPS for the current year.
In other Antero Resources Corp. news, insider Ward D. Mcneilly sold 28,037 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $27.35, for a total value of $766,811.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glen C. Warren, Jr. sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $27.38, for a total value of $27,380,000.00. The disclosure for this sale can be found here. 10.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Brave Warrior Advisors LLC raised its stake in shares of Antero Resources Corp. by 120.8% in the second quarter. Brave Warrior Advisors LLC now owns 9,285,336 shares of the company’s stock valued at $241,233,000 after buying an additional 5,080,141 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Antero Resources Corp. by 37.3% in the second quarter. Vanguard Group Inc. now owns 13,811,368 shares of the company’s stock valued at $358,819,000 after buying an additional 3,752,687 shares during the last quarter. Stelliam Investment Management LP acquired a new stake in shares of Antero Resources Corp. during the second quarter valued at approximately $84,565,000. Harvest Fund Advisors LLC acquired a new stake in shares of Antero Resources Corp. during the second quarter valued at approximately $75,537,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Antero Resources Corp. during the second quarter valued at approximately $58,356,000. 86.14% of the stock is currently owned by institutional investors.
About Antero Resources Corp.
Antero Resources Corporation is an oil and natural gas company. The Company is engaged in the exploration, development and acquisition of natural gas, natural gas liquids (NGLs) and oil properties located in the Appalachian Basin. The Company’s segments include the exploration, development and production of natural gas, NGLs, and oil; gathering and compression; water handling and treatment, and marketing of excess firm transportation capacity.
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