Antero Resources Co. (NYSE:AR)’s stock price fell 5.8% during trading on Thursday . The company traded as low as $9.67 and last traded at $9.67. 45,086 shares traded hands during trading, a decline of 100% from the average session volume of 9,465,737 shares. The stock had previously closed at $10.27.
A number of brokerages have commented on AR. TheStreet upgraded Antero Resources from a “d” rating to a “c-” rating in a report on Monday, March 15th. The Goldman Sachs Group cut Antero Resources from a “neutral” rating to a “sell” rating in a report on Friday, March 12th. Morgan Stanley upgraded Antero Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $6.00 to $11.00 in a report on Wednesday, March 17th. Raymond James upgraded Antero Resources from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Tuesday, January 26th. Finally, Wells Fargo & Company upgraded Antero Resources from an “underweight” rating to an “equal weight” rating and set a $12.00 target price on the stock in a report on Monday, March 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.08.
The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.89 billion, a PE ratio of -1.49 and a beta of 4.57. The firm has a 50-day moving average of $9.78 and a two-hundred day moving average of $6.13.
Antero Resources (NYSE:AR) last issued its earnings results on Tuesday, February 16th. The oil and natural gas company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.09). The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Antero Resources had a negative return on equity of 2.17% and a negative net margin of 58.04%. Equities research analysts expect that Antero Resources Co. will post -0.59 earnings per share for the current fiscal year.
In other Antero Resources news, Director Robert J. Clark sold 168,000 shares of the firm’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $9.79, for a total value of $1,644,720.00. Following the transaction, the director now directly owns 148,242 shares of the company’s stock, valued at $1,451,289.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Antero Resources by 12.8% during the fourth quarter. BlackRock Inc. now owns 19,992,547 shares of the oil and natural gas company’s stock worth $108,960,000 after acquiring an additional 2,272,128 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Antero Resources during the third quarter worth about $3,874,000. Northern Trust Corp increased its position in shares of Antero Resources by 33.2% during the fourth quarter. Northern Trust Corp now owns 4,114,927 shares of the oil and natural gas company’s stock worth $22,426,000 after acquiring an additional 1,025,854 shares during the last quarter. Morgan Stanley increased its position in shares of Antero Resources by 31.7% during the third quarter. Morgan Stanley now owns 3,989,062 shares of the oil and natural gas company’s stock worth $10,969,000 after acquiring an additional 960,004 shares during the last quarter. Finally, Jefferies Group LLC increased its position in shares of Antero Resources by 213.0% during the fourth quarter. Jefferies Group LLC now owns 395,362 shares of the oil and natural gas company’s stock worth $2,155,000 after acquiring an additional 745,362 shares during the last quarter. 80.06% of the stock is currently owned by institutional investors.
About Antero Resources (NYSE:AR)
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, 2019, the company had approximately 451,000 net acres in the southwestern core of the Marcellus Shale; and 91,000 net acres in the core of the Utica Shale.
Further Reading: Special Purpose Acquisition Company (SPAC)
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