Antero Resources (NYSE:AR) Stock Price Target Cut by Mizuho

Key Points

• Mizuho lowered Antero Resources’ price target from $57 to $51 while maintaining an “outperform” rating, implying 43.21% upside from the stock’s $35.61 price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $48.11, despite mixed recent target revisions from other brokerages.
• Institutional investors own 83.04% of Antero Resources; BlackRock and several other funds recently established or expanded significant positions in the oil and natural gas producer.

Antero Resources (NYSE:AR - Get Free Report) had its price target dropped by investment analysts at Mizuho from $57.00 to $51.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the oil and natural gas company's stock. Mizuho's price target would indicate a potential upside of 43.21% from the stock's current price.

Several other brokerages also recently weighed in on AR. Texas Capital raised shares of Antero Resources to a "strong-buy" rating in a report on Thursday, June 25th. Citigroup cut their price target on shares of Antero Resources from $53.00 to $45.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Benchmark lifted their price objective on Antero Resources from $44.00 to $47.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Stifel Nicolaus assumed coverage on Antero Resources in a research report on Thursday, September 10th. They set a "hold" rating and a $42.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Antero Resources from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Antero Resources has a consensus rating of "Moderate Buy" and a consensus price target of $48.11.

Antero Resources Stock Performance

NYSE:AR opened at $35.61 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 10.23 and a beta of 0.54. The firm's fifty day moving average price is $36.76 and its 200 day moving average price is $36.79. Antero Resources has a 1-year low of $29.10 and a 1-year high of $45.75.

Hedge Funds Weigh In On Antero Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Antero Resources in the 2nd quarter worth about $966,982,000. Bank of New York Mellon Corp purchased a new position in Antero Resources during the second quarter worth approximately $106,063,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Antero Resources in the 2nd quarter valued at $100,212,000. Palo Duro Investment Partners LP acquired a new position in shares of Antero Resources in the 2nd quarter valued at $95,985,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Antero Resources by 177.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company's stock valued at $153,261,000 after buying an additional 2,309,388 shares during the period. Institutional investors and hedge funds own 83.04% of the company's stock.

Antero Resources Company Profile

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.

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