Antero Resources (NYSE:AR) Price Target Raised to $48.00 at The Goldman Sachs Group

Antero Resources (NYSE:AR) had its price target hoisted by analysts at The Goldman Sachs Group from $42.00 to $48.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 20.02% from the stock’s current price.

Several other equities analysts also recently issued reports on AR. Weiss Ratings raised shares of Antero Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Zacks Research downgraded Antero Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Wolfe Research reiterated an “outperform” rating and set a $48.00 price target on shares of Antero Resources in a research report on Thursday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $49.00 price target on shares of Antero Resources in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. decreased their target price on Antero Resources from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Antero Resources presently has an average rating of “Moderate Buy” and a consensus target price of $49.12.

Antero Resources Stock Performance

Shares of NYSE AR traded up $0.18 during midday trading on Wednesday, hitting $39.99. The company’s stock had a trading volume of 1,025,207 shares, compared to its average volume of 5,262,528. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s fifty day moving average price is $35.73 and its 200-day moving average price is $36.95. Antero Resources has a 1-year low of $29.10 and a 1-year high of $45.75. The firm has a market cap of $12.30 billion, a P/E ratio of 11.49 and a beta of 0.35.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AR. BlackRock Inc. acquired a new position in shares of Antero Resources during the 2nd quarter valued at about $966,982,000. California State Teachers Retirement System grew its stake in shares of Antero Resources by 3,427.9% in the second quarter. California State Teachers Retirement System now owns 11,957,720 shares of the oil and natural gas company’s stock worth $420,194,000 after acquiring an additional 11,618,775 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Antero Resources by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock worth $434,597,000 after acquiring an additional 1,153,422 shares during the last quarter. State Street Corp increased its position in Antero Resources by 1.2% during the third quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock worth $341,368,000 after acquiring an additional 116,461 shares during the period. Finally, Sourcerock Group LLC increased its position in 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 worth $328,529,000 after acquiring an additional 783,117 shares during the period. Institutional investors and hedge funds 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.