Antero Resources (NYSE:AR) Shares Up 3.1% - Here's What Happened

Key Points

• Antero Resources shares rose 3.1% to approximately $35.50, although trading volume was 91% below the average daily level.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $49.06. Recent target changes ranged from $45 to $55.
• Institutional investors own 83.04% of the company’s stock, while Antero’s operations focus on oil, natural gas and NGL production in the Appalachian Basin’s Marcellus and Utica shale plays.

Antero Resources Corporation (NYSE:AR - Get Free Report) shares rose 3.1% during trading on Wednesday . The company traded as high as $35.62 and last traded at $35.4960. 441,445 shares changed hands during trading, a decline of 91% from the average daily volume of 5,155,989 shares. The stock had previously closed at $34.42.

Analysts Set New Price Targets

AR has been the topic of several research analyst reports. Truist Financial cut their price objective on Antero Resources from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Barclays decreased their target price on Antero Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a research report on Monday, August 17th. Raymond James Financial lifted their target price on Antero Resources from $50.00 to $55.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 1st. Weiss Ratings raised shares of Antero Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Finally, Citigroup reduced their price target on shares of Antero Resources from $53.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Four investment 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.06.

Antero Resources Stock Up 5.1%

The firm has a market capitalization of $11.12 billion, a P/E ratio of 10.41 and a beta of 0.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day moving average of $36.64 and a 200-day moving average of $37.22.

Institutional Trading of Antero Resources

A number of institutional investors have recently modified their holdings of the business. Eastern Bank bought a new stake in Antero Resources during the second quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Antero Resources in the 2nd quarter valued at about $29,000. Rakuten Securities Inc. bought a new stake in shares of Antero Resources during the 2nd quarter valued at about $31,000. PenderFund Capital Management Ltd. purchased a new position in shares of Antero Resources during the second quarter worth about $36,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Antero Resources during the first quarter worth about $53,000. 83.04% of the stock is currently 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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