Antero Resources (NYSE:AR) Shares Down 5.2% - Time to Sell?

Key Points

• Antero Resources shares fell 5.2% to about $36.83 on Wednesday, with trading volume down 83% from the average session.
• Despite the decline, analysts maintain a generally positive outlook: the stock has a consensus “Moderate Buy” rating and an average price target of $49.06.
• Institutional ownership remains high at 83.04%, with major investors including BlackRock, Dimensional Fund Advisors and Assenagon Asset Management holding or increasing significant positions.

Shares of Antero Resources Corporation (NYSE:AR - Get Free Report) fell 5.2% on Wednesday . The company traded as low as $36.87 and last traded at $36.8290. 875,718 shares changed hands during trading, a decline of 83% from the average session volume of 5,151,692 shares. The stock had previously closed at $38.83.

Wall Street Analyst Weigh In

AR has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Antero Resources from $52.00 to $57.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Barclays cut their price objective on Antero Resources from $46.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Morgan Stanley restated an "overweight" rating and set a $49.00 price objective on shares of Antero Resources in a research note on Wednesday, August 19th. Truist Financial decreased their target price on Antero Resources from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $48.00 target price on shares of Antero Resources in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.06.

Antero Resources Stock Down 5.3%

The firm's 50 day moving average price is $36.56 and its two-hundred day moving average price is $37.28. The firm has a market capitalization of $11.31 billion, a PE ratio of 10.54 and a beta of 0.35. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On Antero Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AR. BlackRock Inc. acquired a new position in shares of Antero Resources in the second quarter worth about $966,982,000. Dimensional Fund Advisors LP grew its stake in Antero Resources by 12.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company's stock valued at $434,597,000 after purchasing an additional 1,153,422 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Antero Resources by 177.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company's stock worth $153,261,000 after purchasing an additional 2,309,388 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Antero Resources by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,478,218 shares of the oil and natural gas company's stock worth $147,616,000 after purchasing an additional 377,010 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Antero Resources in the 2nd quarter valued at approximately $100,212,000. 83.04% of the stock is owned by hedge funds and other institutional investors.

Antero Resources Company Profile

Antero Resources Corporation NYSE: AR is an independent oil and natural gas exploration and production company. Its operations are focused primarily on developing unconventional reserves in the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and oil.

The company's core properties are located in the Marcellus and Utica shale plays of West Virginia and Ohio. Its products include natural gas and NGLs such as ethane, propane, butane and natural gasoline, which are marketed to customers in domestic and international energy markets.

Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.

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