Antero Resources (NYSE:AR) Given New $52.00 Price Target at Truist Financial

Antero Resources (NYSE:AR) had its target price reduced by Truist Financial from $56.00 to $52.00 in a report published on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the oil and natural gas company’s stock.

A number of other equities analysts have also recently issued reports on AR. Mizuho boosted their price objective on Antero Resources from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Zacks Research lowered Antero Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Roth Capital reiterated a “neutral” rating and set a $38.00 target price on shares of Antero Resources in a research report on Thursday, April 30th. UBS Group boosted their target price on shares of Antero Resources from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Morgan Stanley lowered their target price on shares of Antero Resources from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Antero Resources has a consensus rating of “Moderate Buy” and a consensus target price of $49.47.

Antero Resources Stock Performance

Antero Resources stock opened at $34.51 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $10.69 billion, a P/E ratio of 11.20 and a beta of 0.33. Antero Resources has a 1-year low of $29.10 and a 1-year high of $45.75. The company’s 50-day moving average is $35.85 and its 200 day moving average is $36.35.

Insider Activity

In other news, insider Michael N. Kennedy sold 185,826 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the transaction, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares in the company, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.10% of the company’s stock.

Institutional Trading of Antero Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Antero Resources by 12.7% in the 1st 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 in the last quarter. State Street Corp boosted 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 valued at $341,368,000 after purchasing an additional 116,461 shares in the last quarter. Sourcerock Group LLC boosted 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 valued at $328,529,000 after purchasing an additional 783,117 shares in the last quarter. Invesco Ltd. grew its stake in Antero Resources by 18.0% in the fourth quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock valued at $172,291,000 after purchasing an additional 761,842 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Antero Resources by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock valued at $161,768,000 after purchasing an additional 1,226,828 shares during the last quarter. 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.