Antero Resources (NYSE:AR) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Antero Resources to $44 (from $39) and maintained a "buy" rating, implying roughly a 20.26% upside; other brokers have also lifted targets, leaving a MarketBeat average price target of $48.56 and a consensus "Moderate Buy."
• Antero beat expectations last quarter with EPS of $0.62 versus $0.49 expected and revenue of $1.41B versus $1.33B, with revenue up 20.8% year-over-year and analysts projecting about 3.79 EPS for the fiscal year.
• The stock trades near $36.59 with a market cap of about $11.29B and a PE of 18.11; insiders have recently sold shares (insiders own 6.3%) while institutional investors hold roughly 83.04% of the stock.

Antero Resources (NYSE:AR - Get Free Report) had its target price upped by equities researchers at Bank of America from $39.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and natural gas company's stock. Bank of America's price objective indicates a potential upside of 20.26% from the stock's previous close.

A number of other research firms have also recently weighed in on AR. Barclays boosted their target price on shares of Antero Resources from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. TD Cowen raised shares of Antero Resources to a "strong-buy" rating in a research note on Monday, February 9th. UBS Group boosted their price objective on shares of Antero Resources from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Truist Financial started coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They issued a "buy" rating and a $56.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of Antero Resources from $39.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Five analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.56.

Antero Resources Stock Performance

NYSE AR opened at $36.59 on Tuesday. The firm's fifty day moving average price is $38.53 and its two-hundred day moving average price is $35.45. The stock has a market cap of $11.29 billion, a PE ratio of 18.11 and a beta of 0.42. Antero Resources has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Antero Resources (NYSE:AR - Get Free Report) last posted its earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.33 billion. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The company's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, equities analysts expect that Antero Resources will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling at Antero Resources

In related news, Director Benjamin A. Hardesty sold 12,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $44.00, for a total value of $528,000.00. Following the transaction, the director owned 150,242 shares in the company, valued at $6,610,648. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yvette K. Schultz sold 15,000 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the completion of the transaction, the insider owned 319,122 shares in the company, valued at approximately $12,551,068.26. The trade was a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Antero Resources

Several institutional investors have recently made changes to their positions in AR. NewEdge Advisors LLC raised its holdings in shares of Antero Resources by 16,498.3% during the first quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company's stock valued at $389,000 after purchasing an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Antero Resources by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company's stock valued at $23,882,000 after purchasing an additional 43,312 shares during the period. Focus Partners Wealth raised its holdings in shares of Antero Resources by 18.9% during the first quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company's stock valued at $806,000 after purchasing an additional 3,169 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Antero Resources by 701.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company's stock valued at $120,000 after purchasing an additional 2,616 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Antero Resources by 22.5% during the second quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company's stock valued at $1,470,000 after purchasing an additional 6,700 shares during the period. Institutional investors and hedge funds own 83.04% of the company's stock.

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.

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