Antero Resources (NYSE:AR) Price Target Cut to $48.00 by Analysts at Morgan Stanley

Antero Resources (NYSE:AR) had its price objective decreased by analysts at Morgan Stanley from $56.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target points to a potential upside of 39.97% from the stock’s previous close.

Other analysts also recently issued reports about the company. Texas Capital upgraded Antero Resources to a “strong-buy” rating in a research report on Thursday. Weiss Ratings lowered shares of Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Truist Financial assumed coverage on shares of Antero Resources in a research note on Tuesday, March 24th. They issued a “buy” rating and a $56.00 target price on the stock. Roth Mkm reaffirmed a “neutral” rating and set a $38.00 target price on shares of Antero Resources in a research report on Thursday, April 30th. Finally, Barclays upped their target price on Antero Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.88.

Antero Resources Trading Down 2.5%

NYSE AR traded down $0.88 during trading on Monday, hitting $34.29. The stock had a trading volume of 1,043,753 shares, compared to its average volume of 5,666,882. Antero Resources has a one year low of $29.10 and a one year high of $45.75. The stock has a 50 day simple moving average of $36.35 and a 200 day simple moving average of $36.36. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 11.14 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40.

Insiders Place Their Bets

In related news, insider Michael N. Kennedy sold 185,826 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the sale, the insider owned 1,085,192 shares of the company’s stock, valued at $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the sale, the insider directly owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Antero Resources

Institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in shares of Antero Resources in the 3rd quarter valued at about $30,000. IFP Advisors Inc raised its stake in Antero Resources by 59.2% in the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Antero Resources during the 4th quarter worth $41,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Antero Resources in the fourth quarter valued at about $44,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Antero Resources during the fourth quarter worth about $45,000. 83.04% of the stock is currently 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.