Zacks Investment Research Lowers Antero Resources (AR) to Hold
Zacks Investment Research downgraded shares of Antero Resources (NYSE:AR) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
Several other research firms have also issued reports on AR. Stifel Nicolaus set a $21.00 price target on shares of Antero Resources and gave the company a hold rating in a research report on Thursday, October 5th. Jefferies Group assumed coverage on shares of Antero Resources in a research report on Monday, October 9th. They set a hold rating and a $21.00 price target for the company. BMO Capital Markets restated a buy rating on shares of Antero Resources in a research report on Friday, September 22nd. Howard Weil lowered shares of Antero Resources from an outperform rating to a sector perform rating and set a $26.00 price target for the company. in a research report on Thursday, September 21st. Finally, Robert W. Baird set a $38.00 price target on shares of Antero Resources and gave the company a buy rating in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $25.41.
Antero Resources (NYSE:AR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Antero Resources had a negative net margin of 12.82% and a positive return on equity of 0.78%. The business had revenue of $775.30 million for the quarter, compared to analysts’ expectations of $798.88 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. equities research analysts anticipate that Antero Resources will post -0.15 EPS for the current year.
In other news, insider K. Phil Yoo sold 10,865 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $19.25, for a total transaction of $209,151.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin J. Kilstrom sold 82,760 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $19.99, for a total transaction of $1,654,372.40. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in Antero Resources by 244.3% in the third quarter. Toronto Dominion Bank now owns 9,326 shares of the oil and natural gas company’s stock worth $186,000 after buying an additional 6,617 shares in the last quarter. Balasa Dinverno & Foltz LLC bought a new position in Antero Resources in the third quarter worth about $211,000. Linscomb & Williams Inc. bought a new position in Antero Resources in the second quarter worth about $220,000. PNC Financial Services Group Inc. raised its stake in Antero Resources by 22.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,353 shares of the oil and natural gas company’s stock worth $223,000 after buying an additional 1,891 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Antero Resources by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,442 shares of the oil and natural gas company’s stock worth $247,000 after buying an additional 855 shares in the last quarter. 96.99% of the stock is owned by institutional investors.
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About Antero Resources
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 processing; water handling and treatment, and marketing of excess firm transportation capacity.
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