Scotiabank Forecasts Strong Price Appreciation for Antero Resources (NYSE:AR) Stock

Antero Resources (NYSE:AR) had its target price raised by stock analysts at Scotiabank from $53.00 to $55.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and natural gas company’s stock. Scotiabank’s target price would suggest a potential upside of 69.96% from the company’s current price.

A number of other equities analysts have also recently issued reports on AR. Wells Fargo & Company set a $39.00 price objective on shares of Antero Resources and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Barclays boosted their price objective on shares of Antero Resources from $38.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Morgan Stanley boosted their price objective on shares of Antero Resources from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Mizuho upgraded shares of Antero Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $47.00 to $49.00 in a research report on Tuesday, May 13th. Finally, UBS Group boosted their price objective on shares of Antero Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.65.

Antero Resources Stock Performance

Antero Resources stock opened at $32.36 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $10.00 billion, a PE ratio of 20.61 and a beta of 0.64. The firm has a fifty day simple moving average of $36.80 and a two-hundred day simple moving average of $37.22. Antero Resources has a twelve month low of $24.53 and a twelve month high of $44.01.

Antero Resources (NYSE:AR) last released its quarterly earnings data on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.33). Antero Resources had a net margin of 10.13% and a return on equity of 6.48%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. Antero Resources’s revenue was up 32.6% compared to the same quarter last year. Research analysts expect that Antero Resources will post 2.74 EPS for the current year.

Institutional Investors Weigh In On Antero Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. SVB Wealth LLC purchased a new stake in Antero Resources in the first quarter worth about $26,000. Huntington National Bank grew its holdings in Antero Resources by 91.3% in the second quarter. Huntington National Bank now owns 656 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 313 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Antero Resources in the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in Antero Resources in the fourth quarter worth about $35,000. Finally, Bessemer Group Inc. grew its holdings in Antero Resources by 64.7% in the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company’s stock worth $42,000 after purchasing an additional 411 shares during the period. 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.