MKM Partners Increases Antero Resources (NYSE:AR) Price Target to $4.00

Antero Resources (NYSE:AR) had its price target boosted by research analysts at MKM Partners from $3.00 to $4.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the oil and natural gas company’s stock. MKM Partners’ target price suggests a potential downside of 10.51% from the stock’s previous close.

A number of other equities research analysts have also recently commented on AR. SunTrust Banks upped their target price on shares of Antero Resources from $2.00 to $3.00 and gave the company a “hold” rating in a report on Friday, May 1st. TD Securities upped their target price on shares of Antero Resources from $2.50 to $3.50 and gave the company a “hold” rating in a report on Wednesday, June 17th. Mizuho initiated coverage on shares of Antero Resources in a report on Wednesday, July 22nd. They issued a “neutral” rating and a $3.00 target price for the company. Morgan Stanley reduced their target price on shares of Antero Resources from $2.75 to $1.75 and set an “underweight” rating for the company in a report on Friday, June 26th. Finally, Wells Fargo & Co upped their target price on shares of Antero Resources from $2.50 to $3.50 and gave the company an “underweight” rating in a report on Thursday, June 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.65.

AR traded up $0.49 on Wednesday, reaching $4.47. The company had a trading volume of 414,388 shares, compared to its average volume of 13,005,827. Antero Resources has a 1 year low of $0.64 and a 1 year high of $4.41. The stock has a market capitalization of $1.08 billion, a PE ratio of -0.61 and a beta of 4.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $3.00 and a 200-day moving average price of $2.30.

Antero Resources (NYSE:AR) last announced its quarterly earnings results on Wednesday, July 29th. The oil and natural gas company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.15). Antero Resources had a negative net margin of 55.84% and a negative return on equity of 4.51%. The company had revenue of $484.91 million during the quarter, compared to analysts’ expectations of $955.90 million. During the same period last year, the firm earned ($0.21) earnings per share. Antero Resources’s revenue was down 62.7% on a year-over-year basis. As a group, analysts expect that Antero Resources will post -0.76 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Antero Resources during the second quarter worth about $25,000. HBK Sorce Advisory LLC acquired a new position in Antero Resources during the first quarter worth about $27,000. World Asset Management Inc grew its position in Antero Resources by 54.2% during the first quarter. World Asset Management Inc now owns 39,356 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 13,839 shares during the period. Transform Wealth LLC acquired a new position in Antero Resources during the second quarter worth about $28,000. Finally, Strs Ohio grew its position in Antero Resources by 336.8% during the second quarter. Strs Ohio now owns 12,321 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 9,500 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

About Antero Resources

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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