Antero Resources (NYSE:AR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $5.50 price objective on the oil and natural gas company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 5.77% from the stock’s previous close.
According to Zacks, “Antero Resources has positioned itself among the fast-growing natural gas producers in the United States. Its strategic acreage position in the low-risk/long reserve-life properties of Appalachian Basin is a major positive. Moreover, the company’s plan to achieve production growth through conservative capital expenditure reflects its efficient operations. Antero Resources also boasts of a healthy balance sheet with manageable debt-to-capital ratio of 29.5%, much lower than the industry average. However, the company’s lack of geographic diversification is concerning. Moreover, surging per unit cash production expense of the company possesses threat to the bottom line. Also, the company is expected to take a hit from the low natural gas prices, as majority of its output consists natural gas. As such, the stock warrants a cautious stance.”
AR has been the topic of a number of other research reports. Morgan Stanley raised shares of to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a research report on Friday. Capital One Financial raised shares of Antero Resources from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, June 18th. Stifel Nicolaus set a $17.00 price objective on shares of Antero Resources and gave the stock a “buy” rating in a research report on Friday, March 22nd. Tudor Pickering downgraded shares of Antero Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Cowen set a $27.00 price objective on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.48.
Antero Resources (NYSE:AR) last posted its quarterly earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Antero Resources had a negative net margin of 9.58% and a positive return on equity of 3.70%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Antero Resources will post 0.8 EPS for the current fiscal year.
In related news, insider Paul M. Rady bought 7,200 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average price of $6.90 per share, with a total value of $49,680.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Levy sold 16,094,190 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.17, for a total transaction of $99,301,152.30. Following the sale, the director now directly owns 116,214 shares in the company, valued at approximately $717,040.38. The disclosure for this sale can be found here. In the last ninety days, insiders bought 48,050 shares of company stock worth $330,062. Insiders own 9.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC grew its position in Antero Resources by 4.5% during the 1st quarter. Sanders Morris Harris LLC now owns 66,000 shares of the oil and natural gas company’s stock worth $582,000 after purchasing an additional 2,864 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Antero Resources by 100.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the oil and natural gas company’s stock worth $35,000 after purchasing an additional 3,200 shares during the last quarter. QS Investors LLC grew its position in Antero Resources by 16.5% during the 4th quarter. QS Investors LLC now owns 23,117 shares of the oil and natural gas company’s stock worth $218,000 after purchasing an additional 3,280 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Antero Resources by 8.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 43,427 shares of the oil and natural gas company’s stock worth $384,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Antero Resources by 3,191.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,654 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 3,543 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.
Antero Resources Company Profile
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.
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