Antero Resources (NYSE:AR) Price Target Cut to $45.00 by Analysts at JPMorgan Chase & Co.

Antero Resources (NYSE:AR) had its price target reduced by research analysts at JPMorgan Chase & Co. from $49.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and natural gas company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 27.59% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Antero Resources from $46.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Truist Financial started coverage on Antero Resources in a research report on Tuesday, March 24th. They issued a “buy” rating and a $56.00 price target for the company. Weiss Ratings cut Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Barclays boosted their price objective on Antero Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 24th. Finally, Citigroup lifted their price target on Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Five research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.71.

Antero Resources Price Performance

AR stock traded up $0.03 during midday trading on Wednesday, reaching $35.27. The stock had a trading volume of 415,020 shares, compared to its average volume of 5,579,487. The company’s fifty day simple moving average is $36.00 and its 200 day simple moving average is $36.33. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 11.48 and a beta of 0.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Antero Resources has a 52-week low of $29.10 and a 52-week high of $45.75.

Insider Transactions at Antero Resources

In other news, insider Yvette K. Schultz sold 39,490 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.27, for a total value of $1,550,772.30. Following the sale, the insider directly owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the transaction, the insider directly owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. The trade was a 14.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Antero Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of AR. GAMMA Investing LLC increased its stake in Antero Resources by 6.0% during the second quarter. GAMMA Investing LLC now owns 8,556 shares of the oil and natural gas company’s stock worth $301,000 after purchasing an additional 481 shares during the period. Eastern Bank acquired a new position in shares of Antero Resources in the second quarter valued at approximately $26,000. Pacer Advisors Inc. increased its stake in Antero Resources by 91.0% during the 1st quarter. Pacer Advisors Inc. now owns 66,936 shares of the oil and natural gas company’s stock worth $2,841,000 after buying an additional 31,885 shares during the period. McIlrath & Eck LLC acquired a new stake in Antero Resources during the 1st quarter worth approximately $53,000. Finally, Bank of America Corp DE boosted its position in Antero Resources by 31.3% in the 1st quarter. Bank of America Corp DE now owns 1,002,942 shares of the oil and natural gas company’s stock valued at $42,565,000 after buying an additional 239,291 shares during the period. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

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.