Antero Resources (NYSE:AR) Stock Rating Upgraded by Scotiabank

Antero Resources (NYSE:AR) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

AR has been the topic of a number of other reports. Weiss Ratings cut Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Stifel Nicolaus started coverage on Antero Resources in a report on Thursday, September 10th. They set a “hold” rating and a $42.00 price objective for the company. Citigroup reduced their target price on shares of Antero Resources from $53.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Texas Capital raised shares of Antero Resources to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company increased their target price on shares of Antero Resources from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Antero Resources currently has a consensus rating of “Moderate Buy” and an average target price of $48.11.

Antero Resources Price Performance

Shares of AR traded up $2.11 during mid-day trading on Wednesday, reaching $38.55. The company had a trading volume of 5,206,183 shares, compared to its average volume of 4,170,516. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $11.85 billion, a P/E ratio of 11.08 and a beta of 0.54. Antero Resources has a twelve month low of $29.10 and a twelve month high of $45.75. The company’s 50-day moving average is $36.96 and its 200-day moving average is $36.50.

Institutional Investors Weigh In On Antero Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in Antero Resources by 1.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,126 shares of the oil and natural gas company’s stock valued at $972,000 after purchasing an additional 285 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Antero Resources by 4.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,362 shares of the oil and natural gas company’s stock worth $397,000 after purchasing an additional 389 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Antero Resources by 0.5% during the second quarter. Arizona State Retirement System now owns 80,875 shares of the oil and natural gas company’s stock worth $2,842,000 after purchasing an additional 394 shares during the last quarter. Twin Capital Management Inc. increased its stake in shares of Antero Resources by 1.5% in the first quarter. Twin Capital Management Inc. now owns 30,195 shares of the oil and natural gas company’s stock valued at $1,281,000 after buying an additional 437 shares in the last quarter. Finally, Hilton Head Capital Partners LLC increased its stake in shares of Antero Resources by 35.3% in the first quarter. Hilton Head Capital Partners LLC now owns 1,739 shares of the oil and natural gas company’s stock valued at $74,000 after buying an additional 454 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Company Profile

Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company’s operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero’s asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.