Antero Resources (NYSE:AR) Price Target Raised to $53.00

Antero Resources (NYSE:AR) had its target price upped by Citigroup from $39.00 to $53.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of Antero Resources from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Barclays upped their price objective on Antero Resources from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Jefferies Financial Group set a $50.00 price target on shares of Antero Resources in a research report on Friday, February 13th. Tudor Pickering raised Antero Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Finally, Wells Fargo & Company upped their price target on shares of Antero Resources from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Five analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Antero Resources Stock Down 1.2%

Shares of NYSE AR opened at $40.39 on Tuesday. Antero Resources has a 1 year low of $29.10 and a 1 year high of $45.75. The firm’s 50 day moving average price is $37.68 and its 200 day moving average price is $35.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $12.46 billion, a P/E ratio of 19.99 and a beta of 0.42.

Antero Resources (NYSE:AR) last released its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.33 billion. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. Antero Resources’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Antero Resources will post 2.74 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Benjamin A. Hardesty sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $44.00, for a total value of $528,000.00. Following the completion of the transaction, the director directly owned 150,242 shares in the company, valued at $6,610,648. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yvette K. Schultz sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the transaction, the insider owned 319,122 shares in the company, valued at $12,551,068.26. This represents a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Antero Resources

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Antero Resources by 16,498.3% during the first quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock valued at $389,000 after buying an additional 9,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Antero Resources by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock worth $23,882,000 after acquiring an additional 43,312 shares in the last quarter. Focus Partners Wealth lifted its holdings in Antero Resources by 18.9% in the 1st quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock valued at $806,000 after acquiring an additional 3,169 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Antero Resources in the 2nd quarter valued at about $208,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Antero Resources by 13.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 13,879 shares of the oil and natural gas company’s stock valued at $559,000 after purchasing an additional 1,664 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

About Antero Resources

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.