Antero Resources Corporation (AR) Shares Gap Down Following Weak Earnings

Antero Resources Corporation (NYSE:AR) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at ($18.61), but opened at $0.00. Antero Resources Corporation shares last traded at $0.00, with a volume of 5439468 shares.

The oil and natural gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Antero Resources Corporation had a return on equity of 1.44% and a net margin of 0.48%. The business had revenue of $775.30 million for the quarter, compared to analysts’ expectations of $798.88 million. During the same period in the previous year, the firm posted $0.18 EPS.

Several research analysts have recently commented on AR shares. Citigroup Inc. cut their price objective on Antero Resources Corporation from $34.00 to $27.00 and set a “buy” rating for the company in a report on Friday, July 21st. Robert W. Baird restated a “buy” rating and issued a $38.00 target price on shares of Antero Resources Corporation in a research report on Sunday, September 10th. Zacks Investment Research upgraded Antero Resources Corporation from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, July 21st. KeyCorp restated a “buy” rating and issued a $33.00 target price on shares of Antero Resources Corporation in a research report on Sunday, September 3rd. Finally, Howard Weil downgraded Antero Resources Corporation from an “outperform” rating to a “sector perform” rating and set a $26.00 target price for the company. in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.06.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 190 shares during the last quarter. Texan Capital Management boosted its position in shares of Antero Resources Corporation by 2.0% during the second quarter. Texan Capital Management now owns 26,845 shares of the oil and natural gas company’s stock valued at $580,000 after buying an additional 535 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Antero Resources Corporation by 5.1% during the second quarter. Royal Bank of Canada now owns 11,731 shares of the oil and natural gas company’s stock valued at $254,000 after buying an additional 566 shares during the last quarter. Strs Ohio boosted its position in shares of Antero Resources Corporation by 0.3% during the second quarter. Strs Ohio now owns 230,265 shares of the oil and natural gas company’s stock valued at $4,976,000 after buying an additional 721 shares during the last quarter. Finally, Gargoyle Investment Advisor L.L.C. boosted its position in shares of Antero Resources Corporation by 3.2% during the second quarter. Gargoyle Investment Advisor L.L.C. now owns 23,665 shares of the oil and natural gas company’s stock valued at $511,000 after buying an additional 742 shares during the last quarter. 93.66% of the stock is currently owned by hedge funds and other institutional investors.

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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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