Q1 2024 Earnings Forecast for Antero Resources Co. Issued By Zacks Research (NYSE:AR)

Antero Resources Co. (NYSE:AR) – Equities research analysts at Zacks Research cut their Q1 2024 earnings per share (EPS) estimates for Antero Resources in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst A. Kanoria now forecasts that the oil and natural gas company will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.06. The consensus estimate for Antero Resources’ current full-year earnings is $0.34 per share. Zacks Research also issued estimates for Antero Resources’ Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.43 EPS, Q1 2026 earnings at $0.86 EPS and FY2026 earnings at $3.19 EPS.

AR has been the subject of several other reports. Raymond James lifted their price target on Antero Resources from $28.00 to $32.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price target on Antero Resources from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Scotiabank boosted their price objective on Antero Resources from $26.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Truist Financial cut their price objective on Antero Resources from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Mizuho boosted their price objective on Antero Resources from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.69.

Antero Resources Trading Up 6.2 %

Shares of NYSE:AR opened at $33.38 on Thursday. Antero Resources has a 52-week low of $19.91 and a 52-week high of $33.61. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 43.23 and a beta of 3.30. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $27.45 and a 200-day moving average price of $25.38.

Antero Resources (NYSE:AR) last issued its quarterly earnings results on Thursday, April 25th. The oil and natural gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. Antero Resources had a return on equity of 2.10% and a net margin of 5.19%. Antero Resources’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS.

Insider Activity

In other news, Director W Howard Keenan, Jr. sold 206,978 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.15, for a total value of $5,412,474.70. Following the transaction, the director now owns 3,793,022 shares of the company’s stock, valued at approximately $99,187,525.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director W Howard Keenan, Jr. sold 206,978 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.15, for a total value of $5,412,474.70. Following the sale, the director now owns 3,793,022 shares in the company, valued at approximately $99,187,525.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sheri Pearce sold 28,009 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $26.29, for a total value of $736,356.61. Following the sale, the insider now owns 106,698 shares in the company, valued at approximately $2,805,090.42. The disclosure for this sale can be found here. Insiders have sold a total of 467,280 shares of company stock valued at $12,153,605 in the last quarter. Insiders own 5.95% of the company’s stock.

Institutional Investors Weigh In On Antero Resources

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Antero Resources by 55.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,881,657 shares of the oil and natural gas company’s stock worth $200,036,000 after acquiring an additional 2,814,127 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Antero Resources by 28.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,659,033 shares of the oil and natural gas company’s stock worth $128,352,000 after acquiring an additional 1,253,510 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Antero Resources during the 1st quarter worth about $35,734,000. Bank of New York Mellon Corp boosted its position in shares of Antero Resources by 34.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,826,549 shares of the oil and natural gas company’s stock worth $97,118,000 after acquiring an additional 982,384 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Antero Resources by 129.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,508,156 shares of the oil and natural gas company’s stock worth $34,205,000 after acquiring an additional 850,940 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.