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

Antero Resources Co. (NYSE:AR) shares gapped down before the market opened 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.

A number of other brokerages have also issued reports on AR. Morgan Stanley lowered their price target on Antero Resources from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Jefferies Financial Group upped their target price on Antero Resources from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Truist Financial cut their price target on Antero Resources from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday. Roth Mkm assumed coverage on shares of Antero Resources in a research note on Tuesday, August 27th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Scotiabank upgraded shares of Antero Resources from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $40.00 to $44.00 in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Antero Resources presently has an average rating of “Moderate Buy” and a consensus target price of $32.63.

Insider Buying and Selling

In related news, insider Yvette K. Schultz sold 50,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 248,363 shares of the company’s stock, valued at approximately $6,268,682.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AR. Diversified Trust Co purchased a new stake in shares of Antero Resources in the second quarter worth about $1,154,000. MADDEN SECURITIES Corp lifted its stake in shares of Antero Resources by 38.5% in the 1st quarter. MADDEN SECURITIES Corp now owns 150,045 shares of the oil and natural gas company’s stock valued at $4,351,000 after purchasing an additional 41,725 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in Antero Resources during the first quarter worth $1,544,000. GSA Capital Partners LLP acquired a new stake in Antero Resources during the first quarter valued at $1,022,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Antero Resources by 47.1% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,073,905 shares of the oil and natural gas company’s stock valued at $31,144,000 after buying an additional 343,905 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Antero Resources Stock Performance

The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 143.30 and a beta of 3.33. The business’s 50-day simple moving average is $27.26 and its two-hundred day simple moving average is $30.31.

Antero Resources (NYSE:AR) last issued its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The business had revenue of $978.65 million for the quarter, compared to analysts’ expectations of $980.20 million. Antero Resources had a return on equity of 0.45% and a net margin of 1.88%. As a group, sell-side analysts expect that Antero Resources Co. will post 0.02 earnings per share for the current fiscal 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.