Antero Resources (NYSE:AR) Shares Gap Down After Analyst Downgrade

Antero Resources Co. (NYSE:AR)’s share price gapped down prior to trading on Tuesday after Wells Fargo & Company downgraded the stock from an overweight rating to an underweight rating. The stock had previously closed at $28.65, but opened at $27.92. Wells Fargo & Company now has a $25.00 price target on the stock, down from their previous price target of $34.00. Antero Resources shares last traded at $28.43, with a volume of 232,194 shares trading hands.

AR has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price target on shares of Antero Resources from $37.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Mizuho dropped their price target on shares of Antero Resources from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group dropped their price target on shares of Antero Resources from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Morgan Stanley dropped their price target on shares of Antero Resources from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Truist Financial dropped their price target on shares of Antero Resources from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Antero Resources presently has a consensus rating of “Moderate Buy” and an average price target of $32.63.

Insider Buying and Selling at Antero Resources

In other Antero Resources news, insider Yvette K. Schultz sold 50,000 shares of Antero Resources stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.24, for a total value of $1,262,000.00. Following the completion of the sale, the insider now directly owns 248,363 shares of the company’s stock, valued at $6,268,682.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Antero Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mattson Financial Services LLC acquired a new position in shares of Antero Resources during the second quarter valued at about $64,000. Capital Impact Advisors LLC acquired a new position in shares of Antero Resources during the second quarter valued at about $740,000. Creative Planning grew its holdings in shares of Antero Resources by 6.8% during the second quarter. Creative Planning now owns 21,056 shares of the oil and natural gas company’s stock valued at $687,000 after buying an additional 1,340 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Antero Resources during the second quarter valued at about $17,307,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Antero Resources by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 300,292 shares of the oil and natural gas company’s stock valued at $9,799,000 after buying an additional 2,695 shares during the last quarter. 83.04% of the stock is owned by institutional investors.

Antero Resources Price Performance

The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 143.28 and a beta of 3.33. The business’s fifty day moving average price is $27.30 and its 200-day moving average price is $30.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Antero Resources had a return on equity of 0.45% and a net margin of 1.88%. The firm had revenue of $978.65 million for the quarter, compared to analysts’ expectations of $980.20 million. On average, research analysts forecast that Antero Resources Co. will post 0.02 EPS for the current year.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.