Antero Resources (NYSE:AR) Stock Price Up 5.7% on Analyst Upgrade

Antero Resources Corporation (NYSE:AR) traded up 5.7% during trading on Monday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $39.00 price target on the stock. Antero Resources traded as high as $32.71 and last traded at $32.6870. 2,768,432 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 4,945,150 shares. The stock had previously closed at $30.91.

Other equities analysts have also issued research reports about the company. Roth Capital lowered Antero Resources from a “buy” rating to a “neutral” rating and cut their price target for the company from $44.00 to $32.00 in a research note on Monday, August 18th. JPMorgan Chase & Co. cut their price target on shares of Antero Resources from $49.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Mizuho decreased their target price on shares of Antero Resources from $49.00 to $41.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Citigroup upgraded Antero Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Tuesday, September 23rd. Finally, Barclays decreased their target price on Antero Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Hedge Funds Weigh In On Antero Resources

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Antero Resources by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 29,797,653 shares of the oil and natural gas company’s stock worth $1,200,249,000 after buying an additional 350,018 shares in the last quarter. Sourcerock Group LLC lifted its position in Antero Resources by 10.6% during the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock worth $328,529,000 after buying an additional 783,117 shares during the period. Invesco Ltd. grew its stake in shares of Antero Resources by 18.4% during the 2nd quarter. Invesco Ltd. now owns 5,258,305 shares of the oil and natural gas company’s stock valued at $211,805,000 after buying an additional 817,977 shares during the period. Raymond James Financial Inc. grew its position in Antero Resources by 10.7% during the first quarter. Raymond James Financial Inc. now owns 4,423,044 shares of the oil and natural gas company’s stock valued at $178,868,000 after acquiring an additional 428,167 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Antero Resources by 2.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,843,592 shares of the oil and natural gas company’s stock worth $154,820,000 after purchasing an additional 99,635 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Stock Performance

The stock’s 50 day moving average price is $32.47 and its 200 day moving average price is $35.14. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15. The firm has a market cap of $10.12 billion, a PE ratio of 17.43 and a beta of 0.56.

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.