Antero Resources (NYSE:AR) Given New $35.00 Price Target at Citigroup

Antero Resources (NYSE:AR) had its price target boosted by Citigroup from $29.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s target price would indicate a potential upside of 12.58% from the stock’s previous close.

Several other research firms have also recently issued reports on AR. Barclays cut their price objective on Antero Resources from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Mizuho cut their price target on shares of Antero Resources from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, September 16th. StockNews.com raised shares of Antero Resources to a “sell” rating in a report on Friday, November 1st. UBS Group lowered their target price on shares of Antero Resources from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Antero Resources from $37.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Antero Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.83.

Antero Resources Stock Performance

Shares of AR stock opened at $31.09 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $29.61 and a 200-day simple moving average of $29.88. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 222.07 and a beta of 3.42. Antero Resources has a 12-month low of $20.10 and a 12-month high of $36.28.

Institutional Trading of Antero Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Antero Resources by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 17,460,062 shares of the oil and natural gas company’s stock worth $500,231,000 after purchasing an additional 675,053 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Antero Resources by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,852,246 shares of the oil and natural gas company’s stock valued at $139,054,000 after buying an additional 61,490 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Antero Resources by 10.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 4,378,849 shares of the oil and natural gas company’s stock worth $125,452,000 after acquiring an additional 411,549 shares during the last quarter. Merewether Investment Management LP grew its stake in Antero Resources by 4.6% in the 2nd quarter. Merewether Investment Management LP now owns 2,943,948 shares of the oil and natural gas company’s stock worth $96,061,000 after acquiring an additional 128,200 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Antero Resources by 4.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,664,628 shares of the oil and natural gas company’s stock worth $76,342,000 after acquiring an additional 122,815 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.