Antero Resources (NYSE:AR) had its target price cut by research analysts at Guggenheim from $7.00 to $6.75 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Guggenheim’s target price points to a potential upside of 162.65% from the stock’s previous close.
Several other brokerages have also recently commented on AR. JPMorgan Chase & Co. began coverage on shares of Antero Resources in a report on Thursday, October 3rd. They set an “underweight” rating on the stock. Mitsubishi UFJ Financial Group restated a “neutral” rating and set a $3.00 price target (down from $6.00) on shares of Antero Resources in a research report on Tuesday, October 8th. ValuEngine raised shares of Antero Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley downgraded Antero Resources from an “equal” rating to a “weight” rating and lowered their price objective for the stock from $3.25 to $1.50 in a research report on Friday, October 4th. Finally, Goldman Sachs Group lowered Antero Resources from a “buy” rating to a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Antero Resources presently has a consensus rating of “Hold” and a consensus price target of $8.56.
Shares of AR opened at $2.57 on Tuesday. Antero Resources has a 52-week low of $1.86 and a 52-week high of $13.11. The stock’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $3.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $666.35 million, a price-to-earnings ratio of 3.34 and a beta of 0.72.
Antero Resources (NYSE:AR) last announced its quarterly earnings results on Tuesday, October 29th. The oil and natural gas company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.19). Antero Resources had a negative net margin of 20.96% and a positive return on equity of 0.32%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $988.92 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Antero Resources will post -0.44 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in shares of Antero Resources by 428.7% during the 3rd quarter. Squarepoint Ops LLC now owns 227,891 shares of the oil and natural gas company’s stock worth $688,000 after acquiring an additional 184,791 shares during the period. California State Teachers Retirement System lifted its position in Antero Resources by 2.6% during the third quarter. California State Teachers Retirement System now owns 444,336 shares of the oil and natural gas company’s stock valued at $1,342,000 after purchasing an additional 11,305 shares during the last quarter. Virtu Financial LLC lifted its position in Antero Resources by 88.6% during the third quarter. Virtu Financial LLC now owns 117,600 shares of the oil and natural gas company’s stock valued at $355,000 after purchasing an additional 55,231 shares during the last quarter. State Street Corp grew its stake in shares of Antero Resources by 49.0% in the 3rd quarter. State Street Corp now owns 14,588,393 shares of the oil and natural gas company’s stock worth $44,057,000 after buying an additional 4,794,398 shares in the last quarter. Finally, Corient Capital Partners LLC purchased a new position in shares of Antero Resources in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 95.63% of the company’s stock.
About Antero Resources
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.
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