Antero Resources (NYSE:AR) Price Target Raised to $40.00 at Scotiabank

Antero Resources (NYSE:AR) had its price target raised by Scotiabank from $36.00 to $40.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a sector perform rating on the oil and natural gas company’s stock.

AR has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Antero Resources from $30.00 to $32.00 and gave the stock an overweight rating in a report on Wednesday, March 27th. Mizuho boosted their target price on shares of Antero Resources from $28.00 to $29.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. Tudor, Pickering, Holt & Co. raised Antero Resources from a hold rating to a buy rating and set a $32.00 price objective on the stock in a report on Wednesday, January 17th. Barclays began coverage on Antero Resources in a report on Wednesday, April 10th. They issued an equal weight rating and a $32.00 target price for the company. Finally, Raymond James lifted their price target on Antero Resources from $28.00 to $32.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $32.08.

Antero Resources Stock Performance

Shares of NYSE:AR opened at $33.14 on Tuesday. The company’s 50 day simple moving average is $28.55 and its 200 day simple moving average is $25.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. Antero Resources has a 1 year low of $19.91 and a 1 year high of $34.69. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 165.70 and a beta of 3.27.

Antero Resources (NYSE:AR) last issued its quarterly earnings results on Wednesday, February 14th. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. Antero Resources had a return on equity of 0.18% and a net margin of 1.50%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, research analysts predict that Antero Resources will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Antero Resources

In related news, Director Robert J. Clark sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $33.67, for a total value of $336,700.00. Following the transaction, the director now owns 69,963 shares in the company, valued at $2,355,654.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Antero Resources news, Director Robert J. Clark sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $33.67, for a total value of $336,700.00. Following the transaction, the director now directly owns 69,963 shares of the company’s stock, valued at $2,355,654.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sheri Pearce sold 28,009 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $26.29, for a total transaction of $736,356.61. Following the sale, the insider now directly owns 106,698 shares of the company’s stock, valued at approximately $2,805,090.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,280 shares of company stock valued at $12,490,305. 5.95% of the stock is currently owned by company insiders.

Institutional Trading of Antero Resources

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Antero Resources by 55.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,881,657 shares of the oil and natural gas company’s stock valued at $200,036,000 after purchasing an additional 2,814,127 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Antero Resources by 28.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,659,033 shares of the oil and natural gas company’s stock valued at $128,352,000 after buying an additional 1,253,510 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Antero Resources during the first quarter worth about $35,734,000. Bank of New York Mellon Corp increased its position in shares of Antero Resources by 34.5% during the third quarter. Bank of New York Mellon Corp now owns 3,826,549 shares of the oil and natural gas company’s stock worth $97,118,000 after acquiring an additional 982,384 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Antero Resources by 129.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,508,156 shares of the oil and natural gas company’s stock valued at $34,205,000 after acquiring an additional 850,940 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

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.