Antero Resources (NYSE:AR) Shares Down 6.3% – Here’s Why

Antero Resources Corporation (NYSE:AR)’s share price dropped 6.3% on Monday . The company traded as low as $31.78 and last traded at $32.0410. Approximately 2,599,109 shares changed hands during trading, a decline of 3% from the average daily volume of 2,681,159 shares. The stock had previously closed at $34.21.

Wall Street Analyst Weigh In

AR has been the topic of a number of analyst reports. Citigroup raised Antero Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a report on Tuesday, September 23rd. Barclays boosted their price objective on shares of Antero Resources from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. Mizuho set a $47.00 target price on shares of Antero Resources in a report on Friday, December 12th. UBS Group upped their price target on shares of Antero Resources from $40.00 to $46.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company raised their price target on Antero Resources from $39.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.47.

Antero Resources Stock Performance

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $34.33 and a 200 day moving average price of $34.10. The stock has a market cap of $10.19 billion, a PE ratio of 17.52 and a beta of 0.50.

Antero Resources (NYSE:AR) last issued its quarterly earnings data on Wednesday, October 29th. The oil and natural gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.38). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Antero Resources had a return on equity of 7.51% and a net margin of 11.73%.The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, research analysts forecast that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Insider Activity

In related news, insider Brendan E. Krueger purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $33.35 per share, with a total value of $166,750.00. Following the purchase, the insider owned 295,917 shares of the company’s stock, valued at $9,868,831.95. The trade was a 1.72% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Antero Resources

Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Antero Resources by 96.2% in the 1st quarter. AQR Capital Management LLC now owns 1,269,904 shares of the oil and natural gas company’s stock valued at $51,355,000 after purchasing an additional 622,506 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Antero Resources during the first quarter worth about $856,000. NewEdge Advisors LLC lifted its stake in shares of Antero Resources by 16,498.3% in the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after acquiring an additional 9,569 shares during the period. Petrus Trust Company LTA purchased a new stake in Antero Resources in the 1st quarter valued at approximately $546,000. Finally, Voleon Capital Management LP grew its holdings in Antero Resources by 134.8% during the first quarter. Voleon Capital Management LP now owns 106,996 shares of the oil and natural gas company’s stock worth $4,327,000 after acquiring an additional 61,431 shares during the period. 83.04% of the stock is owned by institutional investors and hedge funds.

About Antero Resources

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.