Antero Resources (NYSE:AR) Shares Down 4.1% – Here’s Why

Antero Resources Corporation (NYSE:AR) dropped 4.1% on Tuesday . The company traded as low as $43.21 and last traded at $42.4230. Approximately 2,962,322 shares were traded during trading, a decline of 53% from the average daily volume of 6,285,998 shares. The stock had previously closed at $44.23.

Analyst Ratings Changes

AR has been the topic of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Antero Resources from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, December 9th. Wells Fargo & Company increased their target price on shares of Antero Resources from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $39.00 price target (down from $44.00) on shares of Antero Resources in a research report on Monday, December 8th. Morgan Stanley reduced their price target on shares of Antero Resources from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Finally, Citigroup increased their price objective on shares of Antero Resources from $39.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Antero Resources Price Performance

The company has a fifty day moving average of $37.56 and a 200-day moving average of $34.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock has a market cap of $12.61 billion, a PE ratio of 20.24 and a beta of 0.42.

Antero Resources (NYSE:AR) last announced its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.Antero Resources’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Sell-side analysts expect that Antero Resources Corporation will post 2.74 EPS for the current fiscal year.

Insider Activity at Antero Resources

In related news, insider Yvette K. Schultz sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the sale, the insider directly owned 319,122 shares of the company’s stock, valued at $12,551,068.26. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin A. Hardesty sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total transaction of $528,000.00. Following the sale, the director owned 150,242 shares in the company, valued at approximately $6,610,648. This trade represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Antero Resources

Institutional investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of Antero Resources in the third quarter valued at $77,294,000. Massachusetts Financial Services Co. MA increased its holdings in Antero Resources by 111.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,988,300 shares of the oil and natural gas company’s stock worth $137,437,000 after purchasing an additional 2,099,755 shares during the period. AQR Capital Management LLC increased its holdings in Antero Resources by 140.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock worth $116,371,000 after purchasing an additional 2,023,828 shares during the period. Dimensional Fund Advisors LP raised its position in Antero Resources by 31.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,970,390 shares of the oil and natural gas company’s stock valued at $267,485,000 after purchasing an additional 1,922,977 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Antero Resources in the 4th quarter valued at about $58,831,000. Institutional investors and hedge funds 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.