Zacks Investment Research lowered shares of Antero Resources (NYSE:AR) from a hold rating to a sell rating in a research note released on Wednesday morning.
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 research analysts also recently issued reports on the company. Morgan Stanley reduced their price objective on Antero Resources from $23.00 to $22.00 and set an equal weight rating for the company in a research note on Wednesday, October 18th. Robert W. Baird reaffirmed a buy rating and issued a $38.00 target price on shares of Antero Resources in a research report on Sunday, September 10th. Barclays lowered Antero Resources from an overweight rating to an equal weight rating and set a $21.00 target price on the stock. in a research report on Monday, November 20th. Jefferies Group set a $20.00 target price on Antero Resources and gave the stock a hold rating in a research report on Friday, November 17th. Finally, SunTrust Banks reaffirmed a hold rating and issued a $22.00 target price on shares of Antero Resources in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Antero Resources presently has an average rating of Hold and a consensus target price of $26.32.
Antero Resources (NYSE:AR) last announced its earnings results on Wednesday, November 1st. The oil and natural gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $775.30 million for the quarter, compared to analysts’ expectations of $798.88 million. Antero Resources had a negative net margin of 12.82% and a positive return on equity of 0.78%. During the same period in the prior year, the company earned $0.18 earnings per share. analysts forecast that Antero Resources will post -0.14 EPS for the current year.
In related news, insider Kevin J. Kilstrom sold 82,760 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $19.99, for a total transaction of $1,654,372.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider K. Phil Yoo sold 10,865 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.25, for a total value of $209,151.25. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its stake in shares of Antero Resources by 244.3% in the 3rd quarter. Toronto Dominion Bank now owns 9,326 shares of the oil and natural gas company’s stock valued at $186,000 after buying an additional 6,617 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Antero Resources in the 2nd quarter valued at $215,000. Linscomb & Williams Inc. acquired a new stake in shares of Antero Resources in the 2nd quarter valued at $220,000. PNC Financial Services Group Inc. increased its stake in shares of Antero Resources by 22.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,353 shares of the oil and natural gas company’s stock valued at $223,000 after buying an additional 1,891 shares during the period. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in shares of Antero Resources in the 3rd quarter valued at $211,000. 96.99% of the stock is owned by hedge funds and other institutional investors.
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Antero Resources Company Profile
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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