Antero Resources Co. (NYSE:AR – Get Rating)’s stock price traded down 7% during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $40.00 to $37.00. Morgan Stanley currently has an equal weight rating on the stock. Antero Resources traded as low as $38.88 and last traded at $39.11. 60,737 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 6,227,572 shares. The stock had previously closed at $42.04.
Oil & Gas Producer Denbury Etching Cup-With-Handle Base
AR has been the subject of a number of other reports. Raymond James raised their price objective on shares of Antero Resources from $52.00 to $60.00 in a research note on Thursday, June 16th. The Goldman Sachs Group raised their price objective on shares of Antero Resources from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Mizuho dropped their price objective on shares of Antero Resources from $53.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. Wells Fargo & Company raised their price objective on shares of Antero Resources from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, July 11th. Finally, Scotiabank assumed coverage on shares of Antero Resources in a research report on Wednesday, August 3rd. They set a “sector perform” rating and a $47.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.70.
Insider Activity at Antero Resources
In related news, Director Robert J. Clark sold 5,000 shares of Antero Resources stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the director now owns 66,227 shares in the company, valued at approximately $2,980,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider W Patrick Ash sold 36,701 shares of Antero Resources stock in a transaction on Monday, August 1st. The shares were sold at an average price of $38.89, for a total transaction of $1,427,301.89. Following the sale, the insider now owns 870,270 shares of the company’s stock, valued at approximately $33,844,800.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert J. Clark sold 5,000 shares of Antero Resources stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the director now directly owns 66,227 shares in the company, valued at approximately $2,980,215. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,701 shares of company stock worth $1,853,152. 5.72% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Antero Resources
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Antero Resources by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 26,732,940 shares of the oil and natural gas company’s stock worth $816,157,000 after purchasing an additional 513,300 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Antero Resources by 66.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,323,092 shares of the oil and natural gas company’s stock worth $193,043,000 after purchasing an additional 2,517,137 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Antero Resources by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,148,331 shares of the oil and natural gas company’s stock worth $90,095,000 after purchasing an additional 94,814 shares during the last quarter. PointState Capital LP increased its position in shares of Antero Resources by 2.0% in the 2nd quarter. PointState Capital LP now owns 4,236,737 shares of the oil and natural gas company’s stock worth $129,856,000 after purchasing an additional 83,660 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Antero Resources by 46.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,584,500 shares of the oil and natural gas company’s stock valued at $109,865,000 after buying an additional 1,134,200 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.
Antero Resources Trading Down 7.2 %
The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average is $36.40 and its two-hundred day moving average is $33.95. The firm has a market cap of $11.94 billion, a P/E ratio of 15.63 and a beta of 3.68.
Antero Resources (NYSE:AR – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The oil and natural gas company reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.21). Antero Resources had a net margin of 16.24% and a return on equity of 19.52%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $0.12 EPS. Antero Resources’s quarterly revenue was up 352.0% on a year-over-year basis. As a group, analysts expect that Antero Resources Co. will post 6.8 earnings per share for the current fiscal year.
Antero Resources Company Profile
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2021, it had approximately 502,000 net acres in the Appalachian Basin; and 174,000 net acres in the Upper Devonian Shale.
