Antero Resources (NYSE:AR) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Antero Resources (NYSE:AR) released its quarterly earnings data on Wednesday. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.06, FiscalAI reports. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. Antero Resources had a net margin of 16.39% and a return on equity of 7.80%. Antero Resources’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS.

Antero Resources Stock Performance

NYSE:AR traded up $1.25 during midday trading on Wednesday, reaching $35.12. The stock had a trading volume of 6,516,700 shares, compared to its average volume of 5,527,607. The stock has a market capitalization of $10.88 billion, a P/E ratio of 11.40 and a beta of 0.33. Antero Resources has a 1-year low of $29.10 and a 1-year high of $45.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The firm’s fifty day simple moving average is $34.93 and its 200-day simple moving average is $36.36.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research lowered Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Mizuho upped their price target on Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Citigroup increased their price objective on Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Barclays increased their price objective on Antero Resources from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, June 24th. Finally, Truist Financial reduced their target price on Antero Resources from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.56.

Insiders Place Their Bets

In other Antero Resources news, insider Yvette K. Schultz sold 39,490 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider directly owned 277,665 shares in the company, valued at $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the sale, the insider owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.

Institutional Trading of Antero Resources

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Antero Resources by 140.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock valued at $116,371,000 after buying an additional 2,023,828 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Antero Resources by 676.5% during the third quarter. Marshall Wace LLP now owns 1,632,627 shares of the oil and natural gas company’s stock worth $54,791,000 after buying an additional 1,422,377 shares during the last quarter. Freestone Grove Partners LP boosted its position in shares of Antero Resources by 210.1% in the fourth quarter. Freestone Grove Partners LP now owns 1,892,006 shares of the oil and natural gas company’s stock valued at $65,199,000 after acquiring an additional 1,281,940 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Antero Resources by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,085,648 shares of the oil and natural gas company’s stock valued at $313,106,000 after acquiring an additional 1,115,258 shares during the period. Finally, Palo Duro Investment Partners LP grew its stake in shares of Antero Resources by 60.2% in the third quarter. Palo Duro Investment Partners LP now owns 2,315,592 shares of the oil and natural gas company’s stock worth $77,711,000 after acquiring an additional 870,206 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.

About Antero Resources

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.