Citigroup Issues Positive Forecast for Antero Resources (NYSE:AR) Stock Price

Antero Resources (NYSE:AR) had its target price raised by Citigroup from $39.00 to $53.00 in a report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the oil and natural gas company’s stock.

Other research analysts have also issued research reports about the company. Bank of America boosted their price objective on Antero Resources from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised their target price on shares of Antero Resources from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Barclays lifted their target price on shares of Antero Resources from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Truist Financial initiated coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Jefferies Financial Group set a $50.00 price target on shares of Antero Resources in a report on Friday, February 13th. Five equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Antero Resources Trading Down 4.5%

Shares of AR stock opened at $42.25 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Antero Resources has a 52-week low of $29.10 and a 52-week high of $45.75. The company has a market capitalization of $13.04 billion, a PE ratio of 20.92 and a beta of 0.52. The business’s fifty day moving average is $37.42 and its 200 day moving average is $34.93.

Antero Resources (NYSE:AR) last posted its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. On average, equities research analysts anticipate that Antero Resources will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the transaction, the insider directly owned 319,122 shares in the company, valued at $12,551,068.26. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin A. Hardesty sold 12,000 shares of Antero Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total transaction of $528,000.00. Following the transaction, the director directly owned 150,242 shares in the company, valued at $6,610,648. This trade represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Antero Resources

A number of institutional investors have recently made changes to their positions in AR. State Street Corp raised its position in Antero Resources by 1.2% in the 3rd quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock worth $341,368,000 after purchasing an additional 116,461 shares during the period. Dimensional Fund Advisors LP boosted its position in Antero Resources by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,085,648 shares of the oil and natural gas company’s stock valued at $313,106,000 after buying an additional 1,115,258 shares during the period. Sourcerock Group LLC grew its stake in shares of Antero Resources by 10.6% during the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock valued at $328,529,000 after buying an additional 783,117 shares during the last quarter. Invesco Ltd. grew its stake in shares of Antero Resources by 18.4% during the second quarter. Invesco Ltd. now owns 5,258,305 shares of the oil and natural gas company’s stock valued at $211,805,000 after buying an additional 817,977 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Antero Resources by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock worth $161,768,000 after buying an additional 1,226,828 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Antero Resources Company Profile

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.