Antero Resources (NYSE:AR) Price Target Raised to $53.00 at Scotiabank

Antero Resources (NYSE:AR - Get Free Report) had its price target hoisted by equities researchers at Scotiabank from $46.00 to $53.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the oil and natural gas company's stock. Scotiabank's target price would indicate a potential upside of 47.43% from the company's current price.

Other analysts have also issued reports about the stock. Mizuho upgraded shares of Antero Resources from a "neutral" rating to an "outperform" rating and increased their price target for the company from $47.00 to $49.00 in a research report on Tuesday, May 13th. UBS Group increased their target price on Antero Resources from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Antero Resources from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Antero Resources from $42.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Finally, TD Cowen upgraded shares of Antero Resources from a "hold" rating to a "buy" rating and upped their target price for the company from $40.00 to $46.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.00.

Antero Resources Price Performance

AR stock traded up $0.10 during midday trading on Friday, hitting $35.95. 5,934,021 shares of the stock were exchanged, compared to its average volume of 4,398,825. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 41.80 and a beta of 0.68. Antero Resources has a fifty-two week low of $24.53 and a fifty-two week high of $44.02. The stock's 50-day moving average price is $39.15 and its 200-day moving average price is $37.83.

Antero Resources (NYSE:AR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The oil and natural gas company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.10. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.28 billion. Antero Resources had a return on equity of 4.01% and a net margin of 5.96%. The business's revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. Research analysts predict that Antero Resources will post 2.74 earnings per share for the current year.

Insider Activity

In related news, insider Yvette K. Schultz sold 25,200 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $39.86, for a total value of $1,004,472.00. Following the transaction, the insider owned 306,819 shares in the company, valued at approximately $12,229,805.34. This trade represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director W Howard Keenan, Jr. sold 38,013 shares of Antero Resources stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.32, for a total transaction of $1,532,684.16. Following the transaction, the director directly owned 364,992 shares in the company, valued at approximately $14,716,477.44. This trade represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,125,200 shares of company stock valued at $45,887,466 over the last 90 days. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Antero Resources

Several large investors have recently made changes to their positions in AR. Slate Path Capital LP purchased a new position in Antero Resources in the 4th quarter worth approximately $35,471,000. Wealthfront Advisers LLC acquired a new position in shares of Antero Resources during the fourth quarter worth $556,000. Bessemer Group Inc. boosted its stake in shares of Antero Resources by 64.7% in the first quarter. Bessemer Group Inc. now owns 1,046 shares of the oil and natural gas company's stock valued at $42,000 after purchasing an additional 411 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Antero Resources during the 1st quarter valued at $538,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Antero Resources during the 1st quarter worth $220,000. Institutional investors and hedge funds own 83.04% of the company's stock.

Antero Resources Company Profile

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream.