TD Securities Cuts Antero Resources (NYSE:AR) Price Target to $7.50

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Antero Resources (NYSE:AR) had its price objective trimmed by TD Securities from $9.00 to $7.50 in a research note published on Friday, BayStreet.CA reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also weighed in on the stock. Capital One Financial raised shares of Antero Resources from an underweight rating to an equal weight rating in a report on Tuesday, June 18th. Zacks Investment Research raised shares of Antero Resources from a hold rating to a buy rating and set a $5.50 target price on the stock in a report on Friday, July 12th. Goldman Sachs Group initiated coverage on shares of Antero Resources in a report on Friday, April 12th. They set a buy rating and a $10.50 target price on the stock. Morgan Stanley boosted their target price on shares of Antero Resources from $6.00 to $6.25 and gave the stock an equal weight rating in a report on Friday, July 12th. Finally, Canaccord Genuity reissued an average rating and set a $3.50 target price on shares of Antero Resources in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Antero Resources has an average rating of Hold and an average target price of $12.65.

AR opened at $4.65 on Friday. Antero Resources has a fifty-two week low of $3.95 and a fifty-two week high of $20.21. The company has a quick ratio of 0.43, a current ratio of 0.58 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 6.04 and a beta of 0.71. The stock’s 50 day simple moving average is $5.16.

Antero Resources (NYSE:AR) last posted its earnings results on Wednesday, July 31st. The oil and natural gas company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.08). Antero Resources had a positive return on equity of 2.99% and a negative net margin of 4.91%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Antero Resources will post -0.03 EPS for the current fiscal year.

In other news, Director James R. Levy sold 16,094,190 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $6.17, for a total value of $99,301,152.30. Following the sale, the director now directly owns 116,214 shares of the company’s stock, valued at approximately $717,040.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul M. Rady acquired 7,500 shares of Antero Resources stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost of $6.71 per share, for a total transaction of $50,325.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 48,050 shares of company stock worth $330,062. Insiders own 9.70% of the company’s stock.

Several large investors have recently bought and sold shares of AR. Board of Trustees of The Leland Stanford Junior University boosted its stake in Antero Resources by 198.0% during the first quarter. Board of Trustees of The Leland Stanford Junior University now owns 6,693,966 shares of the oil and natural gas company’s stock worth $59,108,000 after acquiring an additional 4,447,772 shares in the last quarter. Norges Bank bought a new position in Antero Resources during the fourth quarter worth $40,327,000. Thompson Siegel & Walmsley LLC boosted its stake in Antero Resources by 21.5% during the first quarter. Thompson Siegel & Walmsley LLC now owns 11,220,124 shares of the oil and natural gas company’s stock worth $99,074,000 after acquiring an additional 1,987,140 shares in the last quarter. DDD Partners LLC bought a new position in Antero Resources during the second quarter worth $7,224,000. Finally, Acadian Asset Management LLC bought a new position in Antero Resources during the first quarter worth $9,374,000. 94.69% of the stock is currently owned by institutional investors.

About Antero Resources

Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.

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Analyst Recommendations for Antero Resources (NYSE:AR)

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