Antero Resources (NYSE:AR) Now Covered by Truist Financial

Analysts at Truist Financial assumed coverage on shares of Antero Resources (NYSE:AR) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $56.00 price target on the oil and natural gas company’s stock. Truist Financial’s price target would suggest a potential upside of 31.49% from the stock’s previous close.

AR has been the topic of several other reports. TD Cowen raised Antero Resources to a “strong-buy” rating in a research report on Monday, February 9th. Morgan Stanley lowered their target price on shares of Antero Resources from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $39.00 price target (down from $44.00) on shares of Antero Resources in a report on Monday, December 8th. Mizuho set a $47.00 price target on shares of Antero Resources in a research note on Friday, December 12th. Finally, BMO Capital Markets boosted their price objective 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. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.63.

Antero Resources Stock Performance

AR stock opened at $42.59 on Tuesday. The stock has a market capitalization of $13.14 billion, a PE ratio of 21.08 and a beta of 0.52. Antero Resources has a 12-month low of $29.10 and a 12-month high of $44.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $36.02 and its 200 day simple moving average is $34.45.

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 analysts’ consensus estimates of $0.49 by $0.13. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned $0.48 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts forecast that Antero Resources will post 2.74 earnings per share for the current fiscal year.

Insider Activity at Antero Resources

In other Antero Resources news, insider Yvette K. Schultz sold 15,000 shares of the firm’s 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 sale, the insider owned 319,122 shares in the company, valued at approximately $12,551,068.26. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin A. Hardesty sold 12,000 shares of the company’s 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 completion of the transaction, the director owned 150,242 shares of the company’s stock, valued at approximately $6,610,648. The trade was 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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new position in shares of Antero Resources in the third quarter valued at $77,294,000. Massachusetts Financial Services Co. MA raised its stake in Antero Resources by 111.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,988,300 shares of the oil and natural gas company’s stock valued at $137,437,000 after purchasing an additional 2,099,755 shares in the last quarter. AQR Capital Management LLC raised its stake in Antero Resources by 140.2% during the third quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock valued at $116,371,000 after purchasing an additional 2,023,828 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Antero Resources by 31.8% during the third quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company’s stock valued at $267,485,000 after purchasing an additional 1,922,977 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Antero Resources during the fourth quarter valued at $58,831,000. Institutional investors own 83.04% of the company’s stock.

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.