Antero Resources (NYSE:AR) Hits New 52-Week High on Analyst Upgrade

Antero Resources Co. (NYSE:AR) shares hit a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $36.00 to $38.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Antero Resources traded as high as $39.77 and last traded at $39.77, with a volume of 720585 shares trading hands. The stock had previously closed at $38.59.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price target on shares of Antero Resources from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Citigroup boosted their price target on shares of Antero Resources from $29.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial boosted their price target on shares of Antero Resources from $28.00 to $38.00 and gave the company a “hold” rating in a research report on Monday. Wells Fargo & Company upgraded shares of Antero Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $24.00 to $32.00 in a research note on Tuesday, December 17th. Finally, UBS Group lifted their price objective on shares of Antero Resources from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Antero Resources currently has an average rating of “Moderate Buy” and a consensus price target of $36.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AR. Envestnet Asset Management Inc. grew its position in Antero Resources by 87.7% during the second quarter. Envestnet Asset Management Inc. now owns 58,017 shares of the oil and natural gas company’s stock worth $1,893,000 after buying an additional 27,105 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Antero Resources by 17.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,541,813 shares of the oil and natural gas company’s stock valued at $82,939,000 after buying an additional 381,310 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Antero Resources by 5.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,645 shares of the oil and natural gas company’s stock worth $739,000 after purchasing an additional 1,087 shares during the period. XTX Topco Ltd raised its stake in Antero Resources by 310.5% during the second quarter. XTX Topco Ltd now owns 64,605 shares of the oil and natural gas company’s stock worth $2,108,000 after purchasing an additional 48,866 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its stake in Antero Resources by 11.0% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 808,284 shares of the oil and natural gas company’s stock worth $26,374,000 after purchasing an additional 79,900 shares during the period. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Antero Resources Stock Up 4.3 %

The firm’s 50-day moving average price is $32.96 and its 200-day moving average price is $29.91. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 287.50 and a beta of 3.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28.

Antero Resources Company Profile

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.