Antero Resources (NYSE:AR) Posts Earnings Results

Key Points

• Antero Resources beat quarterly expectations: The company reported $0.90 in EPS versus the $0.84 consensus estimate and revenue of $1.56 billion, above forecasts of $1.53 billion. Revenue increased 20.2% year over year, while EPS rose from $0.50 in the prior-year period.
• Shares rose 3.7% to $35.12 following the results. The stock has traded between $29.10 and $45.75 over the past year, and institutional investors own approximately 83% of outstanding shares.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $48.56, although several firms recently lowered their targets. Two insiders also sold shares under pre-arranged Rule 10b5-1 trading plans.

Antero Resources (NYSE:AR - Get Free Report) released its quarterly earnings results on Wednesday. The oil and natural gas company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.06, FiscalAI reports. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. Antero Resources had a net margin of 16.39% and a return on equity of 7.80%. Antero Resources's revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS.

Antero Resources Stock Up 3.7%

Shares of AR stock traded up $1.25 during trading on Wednesday, hitting $35.12. 6,516,700 shares of the company were exchanged, compared to its average volume of 5,527,607. The business's 50-day simple moving average is $34.93 and its 200 day simple moving average is $36.36. Antero Resources has a twelve month low of $29.10 and a twelve month high of $45.75. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 11.40 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 Activity at Antero Resources

In other news, insider Michael N. Kennedy sold 185,826 shares of the business's stock in a transaction 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 in the company, valued at $42,680,601.36. The trade was a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 the business's stock in a transaction 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 transaction, the insider owned 277,665 shares in the company, valued at approximately $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Antero Resources

A number of institutional investors have recently bought and sold shares of AR. Sunbelt Securities Inc. acquired a new position in Antero Resources in the 3rd quarter worth about $30,000. IFP Advisors Inc lifted its holdings in shares of Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Antero Resources during the 4th quarter valued at about $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Antero Resources during the 4th quarter valued at about $56,000. Finally, Parallel Advisors LLC grew its stake in shares of Antero Resources by 16.7% in the 4th quarter. Parallel Advisors LLC now owns 2,108 shares of the oil and natural gas company's stock valued at $73,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds own 83.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AR shares. The Goldman Sachs Group lowered their target price on Antero Resources from $46.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Citigroup boosted their price target on shares of Antero Resources from $39.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their target price on Antero Resources from $49.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, July 8th. UBS Group decreased their target price on Antero Resources from $56.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Finally, Williams Trading set a $56.00 price target on Antero Resources in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.56.

About Antero Resources

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.

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