Citigroup Issues Positive Forecast for Antero Resources (NYSE:AR) Stock Price

Key Points

• Citigroup raised its price target on Antero Resources from $39 to $53 and kept a "buy" rating, implying roughly a 24.6% upside; the stock's consensus analyst rating is a "Moderate Buy" with an average target of $47.50.
• Antero beat quarterly estimates with $0.62 EPS vs. $0.49 expected and revenue of $1.41 billion (up 20.8% year-over-year), and analysts forecast about $2.74 EPS for the current fiscal year.
• Two insiders recently sold shares (15,000 and 12,000 shares), modestly reducing their positions, while institutional ownership remains high at about 83.04%.

Antero Resources (NYSE:AR - Get Free Report) had its target price lifted by equities research analysts at Citigroup from $39.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the oil and natural gas company's stock. Citigroup's price target would indicate a potential upside of 24.56% from the stock's previous close.

Several other equities analysts also recently weighed in on AR. TD Cowen upgraded Antero Resources to a "strong-buy" rating in a research report on Monday, February 9th. Wells Fargo & Company increased their price objective on Antero Resources from $49.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. UBS Group lifted their target price 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Antero Resources in a report on Monday, December 29th. Finally, Mizuho set a $47.00 target price on shares of Antero Resources in a research report on Friday, December 12th. Five analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Antero Resources Stock Performance

NYSE:AR traded down $1.68 during midday trading on Tuesday, hitting $42.55. The company's stock had a trading volume of 5,851,809 shares, compared to its average volume of 6,337,407. The firm's 50 day moving average is $37.24 and its 200-day moving average is $34.87. The firm has a market cap of $13.13 billion, a P/E ratio of 21.03 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. Antero Resources has a fifty-two week low of $29.10 and a fifty-two week high of $45.75.

Antero Resources (NYSE:AR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.49 by $0.13. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.33 billion. Antero Resources had a net margin of 12.02% and a return on equity of 6.71%. The firm's revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. Equities analysts anticipate that Antero Resources will post 2.74 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Yvette K. Schultz sold 15,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.33, for a total value of $589,950.00. Following the completion of the transaction, the insider directly owned 319,122 shares in the company, valued at approximately $12,551,068.26. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin A. Hardesty sold 12,000 shares of the firm's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total value of $528,000.00. Following the sale, the director directly owned 150,242 shares of the company's stock, valued at approximately $6,610,648. This trade represents a 7.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Stephens Investment Management Group LLC boosted its position in Antero Resources by 4.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,185,601 shares of the oil and natural gas company's stock valued at $39,789,000 after buying an additional 51,126 shares during the last quarter. Goodman Financial Corp bought a new position in Antero Resources in the 3rd quarter worth about $14,791,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Antero Resources by 103.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 436,476 shares of the oil and natural gas company's stock valued at $14,648,000 after buying an additional 222,311 shares in the last quarter. Edgestream Partners L.P. bought a new position in Antero Resources during the second quarter valued at about $3,015,000. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Antero Resources by 43.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 595,608 shares of the oil and natural gas company's stock valued at $19,989,000 after purchasing an additional 180,390 shares during the last quarter. Hedge funds and other institutional investors 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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