Antero Resources (NYSE:AR) Raised to Strong-Buy at Scotiabank

Antero Resources (NYSE:AR) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Several other research analysts have also issued reports on the company. Barclays dropped their target price on Antero Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. The Goldman Sachs Group increased their price target on Antero Resources from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Mizuho decreased their price target on Antero Resources from $57.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Texas Capital raised Antero Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Wolfe Research restated an “outperform” rating and set a $48.00 price objective on shares of Antero Resources in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.11.

Antero Resources Trading Up 5.8%

NYSE:AR traded up $2.11 during mid-day trading on Wednesday, hitting $38.55. 5,206,183 shares of the stock traded hands, compared to its average volume of 4,170,516. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29. Antero Resources has a 52 week low of $29.10 and a 52 week high of $45.75. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 11.08 and a beta of 0.54. The firm’s 50 day moving average is $36.96 and its two-hundred day moving average is $36.50.

Hedge Funds Weigh In On Antero Resources

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Antero Resources during the second quarter worth approximately $966,982,000. Bank of New York Mellon Corp purchased a new stake in shares of Antero Resources in the second quarter valued at approximately $106,063,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Antero Resources in the second quarter valued at approximately $100,212,000. Palo Duro Investment Partners LP purchased a new stake in shares of Antero Resources in the second quarter valued at approximately $95,985,000. Finally, Assenagon Asset Management S.A. grew its stake in Antero Resources by 177.4% in the first quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock worth $153,261,000 after purchasing an additional 2,309,388 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors.

About Antero Resources

Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company’s operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero’s asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.