Zacks Investment Research Upgrades Antero Resources Corp. (AR) to Buy
Antero Resources Corp. (NYSE:AR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $31.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.89% from the company’s previous close.
According to Zacks, “Antero Resources Corporation is an independent oil and natural gas company. It is primarily engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. Antero Resources Corporation is headquartered in Denver, Colorado. “
A number of other research firms also recently weighed in on AR. Credit Suisse Group AG reiterated an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of Antero Resources Corp. in a research note on Tuesday, June 14th. Deutsche Bank AG reduced their target price on shares of Antero Resources Corp. from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, June 14th. Barclays PLC reduced their target price on shares of Antero Resources Corp. from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Vetr upgraded shares of Antero Resources Corp. from a “hold” rating to a “buy” rating and set a $29.14 target price on the stock in a research note on Monday, June 13th. Finally, BMO Capital Markets restated a “buy” rating on shares of Antero Resources Corp. in a research note on Monday, June 13th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $31.40.
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Antero Resources Corp. (NYSE:AR) traded down 2.02% during trading on Tuesday, hitting $27.22. 1,741,489 shares of the stock traded hands. Antero Resources Corp. has a 52 week low of $18.50 and a 52 week high of $30.66. The stock has a market cap of $8.36 billion, a P/E ratio of 84.01 and a beta of 1.09. The firm’s 50-day moving average is $26.74 and its 200 day moving average is $26.91.
Antero Resources Corp. (NYSE:AR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. Antero Resources Corp. had a net margin of 15.72% and a return on equity of 1.19%. The firm had revenue of $376.70 million for the quarter, compared to the consensus estimate of $676.46 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. Equities research analysts forecast that Antero Resources Corp. will post $0.10 earnings per share for the current fiscal year.
In other Antero Resources Corp. news, insider Glen C. Warren, Jr. sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $27.38, for a total transaction of $27,380,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ward D. Mcneilly sold 28,037 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $27.35, for a total value of $766,811.95. The disclosure for this sale can be found here. 10.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in AR. Addison Capital Co bought a new stake in shares of Antero Resources Corp. during the third quarter worth about $519,000. BNP Paribas Arbitrage SA boosted its stake in shares of Antero Resources Corp. by 68.0% in the third quarter. BNP Paribas Arbitrage SA now owns 54,683 shares of the company’s stock worth $1,474,000 after buying an additional 22,137 shares in the last quarter. Carnick & Kubik Group LLC bought a new stake in shares of Antero Resources Corp. during the second quarter worth about $21,613,000. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of Antero Resources Corp. during the second quarter worth about $7,463,000. Finally, Royal Bank of Canada boosted its stake in shares of Antero Resources Corp. by 1,157.2% in the second quarter. Royal Bank of Canada now owns 43,021 shares of the company’s stock worth $1,119,000 after buying an additional 39,599 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.
About Antero Resources Corp.
Antero Resources Corporation is an oil and natural gas company. The Company is engaged in the exploration, development and acquisition of natural gas, natural gas liquids (NGLs) and oil properties located in the Appalachian Basin. The Company’s segments include the exploration, development and production of natural gas, NGLs, and oil; gathering and compression; water handling and treatment, and marketing of excess firm transportation capacity.
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