Antero Resources (NYSE:AR) Price Target Cut to $44.00 by Analysts at Morgan Stanley

Antero Resources (NYSE:AR) had its target price lowered by Morgan Stanley from $47.00 to $44.00 in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

A number of other brokerages also recently issued reports on AR. Mizuho dropped their price target on shares of Antero Resources from $49.00 to $41.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Antero Resources in a report on Wednesday, October 8th. Citigroup upgraded shares of Antero Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $39.00 in a research report on Tuesday, September 23rd. Wells Fargo & Company set a $39.00 target price on shares of Antero Resources and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Antero Resources from $49.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Antero Resources presently has an average rating of “Moderate Buy” and an average target price of $44.13.

Antero Resources Stock Performance

Shares of Antero Resources stock opened at $31.60 on Tuesday. Antero Resources has a 1 year low of $25.36 and a 1 year high of $44.01. The firm’s 50-day moving average is $32.46 and its 200 day moving average is $35.46. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 20.13 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.30 and a quick ratio of 0.30.

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

Institutional Trading of Antero Resources

Institutional investors have recently made changes to their positions in the business. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Antero Resources during the first quarter worth about $6,761,000. CWM LLC boosted its stake in Antero Resources by 109.6% during the first quarter. CWM LLC now owns 32,725 shares of the oil and natural gas company’s stock valued at $1,323,000 after buying an additional 17,113 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Antero Resources by 14.3% during the first quarter. PNC Financial Services Group Inc. now owns 11,670 shares of the oil and natural gas company’s stock valued at $472,000 after buying an additional 1,461 shares during the last quarter. Bessemer Group Inc. boosted its stake in Antero Resources by 64.7% during the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company’s stock valued at $42,000 after buying an additional 411 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Antero Resources during the first quarter valued at approximately $538,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Company Profile

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.