Antero Resources (NYSE:AR) Stock Gets Price Target Boost from Truist Financial

Key Points

• Truist Financial raised Antero Resources’ price target from $46 to $52 and maintained a “buy” rating, implying 23.58% upside from the prior close.
• Analyst sentiment remains favorable, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $48.42.
• Antero Resources shares rose to $42.08 on Friday, while institutional investors owned 83.04% of the company’s stock.

Antero Resources (NYSE:AR - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $46.00 to $52.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the oil and natural gas company's stock. Truist Financial's price objective would suggest a potential upside of 23.58% from the stock's previous close.

Several other analysts have also commented on AR. Mizuho cut their target price on shares of Antero Resources from $57.00 to $51.00 and set an "outperform" rating for the company in a research note on Thursday, October 8th. Wolfe Research restated an "outperform" rating and set a $48.00 price target on shares of Antero Resources in a report on Thursday, July 30th. Morgan Stanley upped their price target on shares of Antero Resources from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Barclays decreased 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. Finally, Scotiabank initiated coverage on Antero Resources in a research note on Wednesday, October 14th. They issued a "sector outperform" rating and a $46.00 price objective for the company. Five investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.42.

Antero Resources Price Performance

NYSE AR traded up $0.88 on Friday, reaching $42.08. 1,488,728 shares of the stock traded hands, compared to its average volume of 5,071,228. Antero Resources has a 12 month low of $30.11 and a 12 month high of $45.75. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 9.51 and a beta of 0.54. The firm's fifty day simple moving average is $37.47 and its 200 day simple moving average is $36.70. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On Antero Resources

Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Antero Resources during the second quarter worth $966,982,000. Dimensional Fund Advisors LP lifted its stake in Antero Resources by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company's stock valued at $434,597,000 after acquiring an additional 1,153,422 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Antero Resources by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,478,218 shares of the oil and natural gas company's stock worth $147,616,000 after acquiring an additional 377,010 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Antero Resources during the 2nd quarter worth approximately $100,212,000. Finally, Palo Duro Investment Partners LP acquired a new stake in shares of Antero Resources in the second quarter valued at approximately $95,985,000. Institutional investors own 83.04% of the company's stock.

Antero Resources Company Profile

Antero Resources Corporation is an independent energy company engaged in the development, production, exploration and acquisition of natural gas, natural gas liquids (NGLs) and oil. The company's operations are focused primarily on the Appalachian Basin in the United States.

Antero Resources holds extensive interests in the Marcellus and Utica shale formations, with drilling and production activities concentrated in West Virginia and Ohio. Its product portfolio includes natural gas, ethane, propane, butane, natural gasoline and oil or condensate, which are marketed to domestic and international energy customers.

Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.

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