Antero Resources (NYSE:AR) Upgraded to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Antero Resources (NYSE:AR) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also commented on AR. Wall Street Zen cut shares of Antero Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. BMO Capital Markets raised their price target on shares of Antero Resources from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of Antero Resources in a research report on Monday, December 29th. Tudor Pickering raised Antero Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Finally, Roth Mkm reiterated a “neutral” rating and issued a $36.00 price target on shares of Antero Resources in a report on Monday, December 8th. Five investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.63.

Antero Resources Trading Up 2.0%

Shares of Antero Resources stock opened at $43.39 on Monday. Antero Resources has a 12-month low of $29.10 and a 12-month high of $44.37. The stock has a market capitalization of $13.39 billion, a P/E ratio of 21.48 and a beta of 0.52. The company has a 50-day simple moving average of $36.24 and a 200 day simple moving average of $34.53. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.33 billion. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Research analysts expect that Antero Resources will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at Antero Resources

In other news, insider Yvette K. Schultz sold 15,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $39.33, for a total value of $589,950.00. Following the completion of the sale, the insider directly owned 319,122 shares of the company’s stock, valued at $12,551,068.26. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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. The trade was a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Antero Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC grew its stake in Antero Resources by 4.5% in the third quarter. Stephens Investment Management Group LLC now owns 1,185,601 shares of the oil and natural gas company’s stock valued at $39,789,000 after acquiring an additional 51,126 shares during the period. Goodman Financial Corp acquired a new stake in shares of Antero Resources during the third quarter worth about $14,791,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Antero Resources by 103.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 436,476 shares of the oil and natural gas company’s stock worth $14,648,000 after purchasing an additional 222,311 shares during the period. Edgestream Partners L.P. bought a new position in shares of Antero Resources during the 2nd quarter valued at about $3,015,000. Finally, Diamond Hill Capital Management Inc. grew its position in shares of Antero Resources by 43.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 595,608 shares of the oil and natural gas company’s stock valued at $19,989,000 after purchasing an additional 180,390 shares during the period. 83.04% of the stock is owned by institutional investors.

About Antero Resources

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.