Truist Financial Issues Pessimistic Forecast for Antero Resources (NYSE:AR) Stock Price

Antero Resources (NYSE:AR) had its target price cut by stock analysts at Truist Financial from $56.00 to $52.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price objective suggests a potential upside of 51.65% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Texas Capital upgraded shares of Antero Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Morgan Stanley dropped their target price on Antero Resources from $56.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. JPMorgan Chase & Co. reduced their price target on Antero Resources from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Antero Resources from $46.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Weiss Ratings downgraded Antero Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.47.

Antero Resources Stock Performance

NYSE AR opened at $34.29 on Thursday. The business’s 50 day moving average price is $35.93 and its 200-day moving average price is $36.34. Antero Resources has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The company has a market cap of $10.62 billion, a P/E ratio of 11.17 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40.

Insider Buying and Selling

In other news, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of Antero Resources stock in a transaction that occurred on 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 sale, the insider directly owned 277,665 shares of the company’s stock, valued at $10,903,904.55. This represents a 12.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Antero Resources

Hedge funds have recently made changes to their positions in the company. Eastern Bank bought a new position in shares of Antero Resources during the 2nd quarter worth $26,000. Sunbelt Securities Inc. bought a new stake in shares of Antero Resources in the third quarter valued at about $30,000. IFP Advisors Inc lifted its stake in Antero Resources by 59.2% in the third quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 345 shares during the period. Los Angeles Capital Management LLC bought a new position in Antero Resources during the 4th quarter worth about $41,000. Finally, McIlrath & Eck LLC bought a new position in Antero Resources during the 1st quarter worth about $53,000. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Antero Resources Company Profile

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.