Antero Resources Corporation (NYSE:AR) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Antero Resources Corporation (NYSE:AR) from a hold rating to a buy rating in a research report sent to investors on Friday, July 21st. The firm currently has $24.00 price objective on the oil and natural gas company’s stock.

According to Zacks, “Antero Resources Corporation is an independent oil and natural gas company. It is primarily engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. Antero Resources Corporation is headquartered in Denver, Colorado. “

Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a hold rating and issued a $25.00 price target on shares of Antero Resources Corporation in a research report on Friday, July 21st. Cowen and Company set a $25.00 target price on shares of Antero Resources Corporation and gave the stock a hold rating in a research report on Tuesday, July 18th. Scotiabank set a $27.00 target price on shares of Antero Resources Corporation and gave the stock a buy rating in a research report on Saturday, July 1st. BidaskClub raised shares of Antero Resources Corporation from a sell rating to a hold rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets reissued a buy rating and set a $26.00 target price on shares of Antero Resources Corporation in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $29.13.

Antero Resources Corporation (NYSE:AR) traded up 1.67% during mid-day trading on Friday, reaching $18.82. The company had a trading volume of 3,094,401 shares. The company has a market capitalization of $5.94 billion, a P/E ratio of 437.67 and a beta of 0.95. The stock has a 50 day moving average price of $20.50 and a 200 day moving average price of $22.08. Antero Resources Corporation has a one year low of $18.23 and a one year high of $28.30.

Antero Resources Corporation (NYSE:AR) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Antero Resources Corporation had a net margin of 0.48% and a return on equity of 1.44%. The business had revenue of $736 million during the quarter, compared to the consensus estimate of $778.55 million. During the same period in the previous year, the business posted $0.14 EPS. Antero Resources Corporation’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Antero Resources Corporation will post $0.32 earnings per share for the current fiscal year.

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In related news, insider Ward D. Mcneilly sold 24,000 shares of Antero Resources Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $22.05, for a total value of $529,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider K. Phil Yoo sold 3,785 shares of Antero Resources Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $20.55, for a total transaction of $77,781.75. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its position in Antero Resources Corporation by 0.8% in the first quarter. Nomura Asset Management Co. Ltd. now owns 22,990 shares of the oil and natural gas company’s stock worth $524,000 after buying an additional 190 shares in the last quarter. TD Asset Management Inc. raised its position in Antero Resources Corporation by 4.4% in the first quarter. TD Asset Management Inc. now owns 9,411 shares of the oil and natural gas company’s stock worth $215,000 after buying an additional 400 shares during the period. Allen Investment Management LLC raised its position in Antero Resources Corporation by 2.4% in the first quarter. Allen Investment Management LLC now owns 18,275 shares of the oil and natural gas company’s stock worth $417,000 after buying an additional 422 shares during the period. TCW Group Inc. raised its position in Antero Resources Corporation by 1.9% in the first quarter. TCW Group Inc. now owns 23,368 shares of the oil and natural gas company’s stock worth $533,000 after buying an additional 445 shares during the period. Finally, Texan Capital Management raised its position in Antero Resources Corporation by 2.0% in the second quarter. Texan Capital Management now owns 26,845 shares of the oil and natural gas company’s stock worth $580,000 after buying an additional 535 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

About Antero Resources Corporation

Antero Resources Corporation is an oil and natural gas company. The Company is engaged in the exploration, development and acquisition of natural gas, natural gas liquids (NGLs) and oil properties located in the Appalachian Basin. The Company’s segments include the exploration, development and production of natural gas, NGLs and oil; gathering and processing; water handling and treatment, and marketing of excess firm transportation capacity.

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