Truist Financial Lowers Antero Resources (NYSE:AR) Price Target to $52.00

Antero Resources (NYSE:AR) had its price target dropped by research analysts at Truist Financial from $56.00 to $52.00 in a research note issued on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price objective suggests a potential upside of 56.68% from the company’s current price.

A number of other analysts have also weighed in on AR. Williams Trading set a $56.00 price objective on Antero Resources in a research note on Monday, April 20th. Texas Capital upgraded shares of Antero Resources to a “strong-buy” rating in a report on Thursday, June 25th. Zacks Research cut shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Mizuho raised their price target on shares of Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $57.00 price objective on shares of Antero Resources in a research report on Friday, May 1st. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.47.

Antero Resources Price Performance

AR opened at $33.19 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $35.74 and its 200 day simple moving average is $36.32. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 10.78 and a beta of 0.33. Antero Resources has a 1 year low of $29.10 and a 1 year high of $45.75.

Insider Activity at Antero Resources

In related news, insider Yvette K. Schultz sold 39,490 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the transaction, the insider owned 277,665 shares in the company, valued at $10,903,904.55. This represents a 12.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.33, for a total value of $7,308,536.58. Following the transaction, the insider owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This represents a 14.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Antero Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank purchased a new position in shares of Antero Resources during the second quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new stake in Antero Resources in the third quarter worth about $30,000. IFP Advisors Inc boosted its position in Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 345 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Antero Resources during the 4th quarter valued at approximately $41,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Antero Resources during the 4th quarter worth approximately $44,000. 83.04% of the stock is owned by hedge funds and other institutional investors.

Antero Resources Company Profile

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.