Antero Resources (NYSE:AR) Upgraded by Citigroup to "Buy" Rating

Key Points

• Antero Resources has been upgraded to a "Buy" rating by Citigroup, with a target price increase from $37.00 to $39.00, indicating a potential upside of 19.74% based on the latest closing price.
• Other analysts have also increased their price targets; Raymond James raised theirs from $57.00 to $58.00, while Barclays lifted theirs from $38.00 to $43.00, showing overall positive sentiment.
• Antero Resources reported a 32.6% year-over-year revenue increase, but missed earnings estimates, showing the company still faces challenges despite strong revenue growth.

Antero Resources (NYSE:AR - Get Free Report) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat reports. The firm presently has a $39.00 target price on the oil and natural gas company's stock, up from their previous target price of $37.00. Citigroup's price objective indicates a potential upside of 19.74% from the company's previous close.

AR has been the subject of several other reports. Raymond James Financial raised their target price on shares of Antero Resources from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Barclays raised their target price on shares of Antero Resources from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Mizuho reduced their price target on shares of Antero Resources from $49.00 to $41.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Morgan Stanley boosted their price target on shares of Antero Resources from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Roth Capital cut shares of Antero Resources from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $44.00 to $32.00 in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Antero Resources presently has a consensus rating of "Moderate Buy" and an average target price of $43.75.

Antero Resources Price Performance

NYSE AR opened at $32.57 on Tuesday. Antero Resources has a 12 month low of $25.36 and a 12 month high of $44.01. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 20.75 and a beta of 0.64. The company's 50 day moving average is $32.64 and its two-hundred day moving average is $36.06. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.15.

Antero Resources (NYSE:AR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The oil and natural gas company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.33). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. Antero Resources had a return on equity of 6.48% and a net margin of 10.13%.Antero Resources's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) EPS. As a group, research analysts anticipate that Antero Resources will post 2.74 earnings per share for the current year.

Institutional Investors Weigh In On Antero Resources

Several hedge funds and other institutional investors have recently made changes to their positions in AR. SVB Wealth LLC purchased a new stake in shares of Antero Resources in the first quarter valued at $26,000. Huntington National Bank grew its holdings in shares of Antero Resources by 91.3% in the second quarter. Huntington National Bank now owns 656 shares of the oil and natural gas company's stock worth $26,000 after purchasing an additional 313 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Antero Resources in the fourth quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in shares of Antero Resources in the fourth quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Antero Resources by 114.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 938 shares of the oil and natural gas company's stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company's stock.

About Antero Resources

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.

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