Antero Resources (NYSE:AR) Given New $45.00 Price Target at JPMorgan Chase & Co.

Antero Resources (NYSE:AR) had its target price decreased by JPMorgan Chase & Co. from $49.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and natural gas company’s stock.

Several other equities analysts have also commented on AR. Morgan Stanley decreased their target price on shares of Antero Resources from $56.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Truist Financial started coverage on shares of Antero Resources in a research report on Tuesday, March 24th. They set a “buy” rating and a $56.00 price target on the stock. Roth Capital reissued a “neutral” rating and issued a $38.00 price objective on shares of Antero Resources in a research note on Thursday, April 30th. Mizuho boosted their price target on Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Weiss Ratings downgraded Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.71.

Antero Resources Price Performance

NYSE:AR opened at $34.72 on Wednesday. The firm’s 50-day simple moving average is $35.93 and its 200 day simple moving average is $36.34. Antero Resources has a 52 week low of $29.10 and a 52 week high of $45.75. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 11.27 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40.

Insider Activity at Antero Resources

In related news, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.33, for a total value of $7,308,536.58. Following the completion of the transaction, the insider owned 1,085,192 shares in the company, valued at $42,680,601.36. This trade represents a 14.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $10,903,904.55. The trade was a 12.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Antero Resources by 12.7% during the first quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock valued at $434,597,000 after acquiring an additional 1,153,422 shares during the last quarter. State Street Corp increased its stake in shares of Antero Resources by 1.2% in the 3rd 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 acquiring an additional 116,461 shares in the last quarter. Sourcerock Group LLC raised its holdings in shares of 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 during the period. Invesco Ltd. boosted its position in shares of Antero Resources by 18.0% during the 4th quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock worth $172,291,000 after purchasing an additional 761,842 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Antero Resources by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock worth $161,768,000 after purchasing an additional 1,226,828 shares in the last quarter. Institutional investors 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.