Antero Resources (NYSE:AR) Price Target Cut to $24.00 by Analysts at Wells Fargo & Company

Antero Resources (NYSE:AR) had its price target reduced by analysts at Wells Fargo & Company from $25.00 to $24.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 8.85% from the company’s previous close.

AR has been the topic of several other research reports. BMO Capital Markets increased their target price on Antero Resources from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. The Goldman Sachs Group dropped their target price on Antero Resources from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Jefferies Financial Group increased their target price on Antero Resources from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays dropped their target price on Antero Resources from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Truist Financial dropped their price objective on Antero Resources from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

Antero Resources Stock Performance

NYSE AR traded down $0.97 on Friday, hitting $26.33. 717,222 shares of the stock traded hands, compared to its average volume of 4,097,709. The business’s fifty day moving average is $27.50 and its two-hundred day moving average is $30.39. Antero Resources has a 12 month low of $20.10 and a 12 month high of $36.28. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 132.20 and a beta of 3.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Antero Resources (NYSE:AR) last announced its quarterly earnings data 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). The firm had revenue of $978.65 million for the quarter, compared to the consensus estimate of $980.20 million. Antero Resources had a net margin of 1.88% and a return on equity of 0.45%. As a group, equities analysts anticipate that Antero Resources will post -0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Yvette K. Schultz sold 50,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 owns 248,363 shares of the company’s stock, valued at approximately $6,268,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AR. Vaughan Nelson Investment Management L.P. increased its holdings in Antero Resources by 269.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,967,300 shares of the oil and natural gas company’s stock valued at $129,453,000 after purchasing an additional 2,893,395 shares during the period. Natixis Advisors LLC increased its holdings in Antero Resources by 488.7% during the 2nd quarter. Natixis Advisors LLC now owns 1,428,864 shares of the oil and natural gas company’s stock valued at $46,624,000 after purchasing an additional 1,186,163 shares during the period. Acadian Asset Management LLC increased its holdings in Antero Resources by 7,781.2% during the 2nd quarter. Acadian Asset Management LLC now owns 953,859 shares of the oil and natural gas company’s stock valued at $31,113,000 after purchasing an additional 941,756 shares during the period. William Blair Investment Management LLC purchased a new position in Antero Resources during the 1st quarter valued at about $25,288,000. Finally, Castle Hook Partners LP increased its holdings in Antero Resources by 160.3% during the 1st quarter. Castle Hook Partners LP now owns 1,226,758 shares of the oil and natural gas company’s stock valued at $35,576,000 after purchasing an additional 755,439 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

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.