Antero Resources (NYSE:AR) Stock Lifted to Strong-Buy by Scotiabank

Scotiabank upgraded shares of Antero Resources (NYSE:AR) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

AR has been the topic of several other reports. Stifel Nicolaus initiated coverage on shares of Antero Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $42.00 price objective on the stock. Wolfe Research reiterated an “outperform” rating and issued a $48.00 price objective on shares of Antero Resources in a research note on Thursday, July 30th. Benchmark raised their target price on shares of Antero Resources from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Mizuho decreased their target price on shares of Antero Resources from $57.00 to $51.00 and set an “outperform” rating for the company in a research report on Thursday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Antero Resources from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.11.

Antero Resources Stock Performance

NYSE:AR traded up $2.11 during midday trading on Wednesday, hitting $38.55. The company’s stock had a trading volume of 5,206,183 shares, compared to its average volume of 4,170,516. Antero Resources has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $11.85 billion, a P/E ratio of 11.08 and a beta of 0.54. The firm’s 50 day moving average is $36.96 and its 200-day moving average is $36.50.

Institutional Trading of Antero Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Antero Resources during the second quarter valued at approximately $966,982,000. Bank of New York Mellon Corp purchased a new stake in Antero Resources in the 2nd quarter worth approximately $106,063,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Antero Resources in the 2nd quarter worth approximately $100,212,000. Palo Duro Investment Partners LP purchased a new stake in Antero Resources in the 2nd quarter worth approximately $95,985,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Antero Resources by 177.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock worth $153,261,000 after purchasing an additional 2,309,388 shares during the period. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Company Profile

Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company’s operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero’s asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.