Antero Resources (NYSE:AR) Price Target Cut to $34.00

Antero Resources (NYSE:AR) had its price target trimmed by Wells Fargo & Company from $38.00 to $34.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

AR has been the topic of several other research reports. Mizuho upped their target price on Antero Resources from $29.00 to $37.00 and gave the company a neutral rating in a research report on Monday, May 13th. Morgan Stanley upgraded Antero Resources from an equal weight rating to an overweight rating and boosted their price target for the company from $26.00 to $36.00 in a research note on Wednesday, April 17th. The Goldman Sachs Group boosted their price target on Antero Resources from $32.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Scotiabank boosted their price target on Antero Resources from $36.00 to $40.00 and gave the company a sector perform rating in a research note on Tuesday, April 30th. Finally, StockNews.com upgraded Antero Resources to a sell rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Antero Resources has an average rating of Hold and a consensus price target of $33.38.

Antero Resources Price Performance

Antero Resources stock opened at $27.89 on Wednesday. Antero Resources has a 12 month low of $20.10 and a 12 month high of $36.28. The stock’s 50 day moving average is $30.78 and its 200-day moving average is $29.60. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 139.45 and a beta of 3.40.

Insider Buying and Selling

In other news, insider Yvette K. Schultz sold 50,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.24, for a total transaction of $1,262,000.00. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which is available through this hyperlink. In other Antero Resources news, insider Sheri Pearce sold 16,377 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $35.50, for a total transaction of $581,383.50. Following the completion of the sale, the insider now owns 77,460 shares of the company’s stock, valued at approximately $2,749,830. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yvette K. Schultz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $25.24, for a total transaction of $1,262,000.00. Following the transaction, the insider now owns 248,363 shares of the company’s stock, valued at approximately $6,268,682.12. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Capital Impact Advisors LLC bought a new position in Antero Resources during the 2nd quarter worth approximately $740,000. Creative Planning grew its position in Antero Resources by 6.8% in the 2nd quarter. Creative Planning now owns 21,056 shares of the oil and natural gas company’s stock valued at $687,000 after purchasing an additional 1,340 shares during the period. Driehaus Capital Management LLC acquired a new stake in Antero Resources in the 2nd quarter valued at $17,307,000. The Manufacturers Life Insurance Company grew its position in Antero Resources by 0.9% in the 2nd 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 purchasing an additional 2,695 shares during the period. Finally, AQR Capital Management LLC grew its position in Antero Resources by 1,021.1% in the 2nd quarter. AQR Capital Management LLC now owns 483,725 shares of the oil and natural gas company’s stock valued at $15,784,000 after purchasing an additional 440,578 shares during the period. Institutional investors own 83.04% of the company’s stock.

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.