Antero Resources (NYSE:AR) Issues Earnings Results, Beats Expectations By $0.06 EPS

Antero Resources (NYSE:AR) announced its earnings results on Wednesday. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.06, FiscalAI reports. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. Antero Resources had a net margin of 16.39% and a return on equity of 7.80%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS.

Antero Resources Trading Up 3.7%

AR traded up $1.25 during midday trading on Wednesday, hitting $35.12. The company’s stock had a trading volume of 6,516,700 shares, compared to its average volume of 4,276,836. Antero Resources has a 52-week low of $29.10 and a 52-week high of $45.75. The firm has a 50-day moving average price of $34.93 and a two-hundred day moving average price of $36.36. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The firm has a market cap of $10.88 billion, a P/E ratio of 17.55 and a beta of 0.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $57.00 price target on shares of Antero Resources in a research note on Friday, May 1st. Morgan Stanley cut their price objective on shares of Antero Resources from $56.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Truist Financial decreased their target price on shares of Antero Resources from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Bank of America lifted their target price on shares of Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Citigroup boosted their price target on Antero Resources from $39.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Antero Resources has a consensus rating of “Moderate Buy” and a consensus price target of $48.56.

Insider Activity

In related news, insider Michael N. Kennedy sold 185,826 shares of the firm’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 sale, the insider directly owned 1,085,192 shares of the company’s stock, valued at approximately $42,680,601.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 39,490 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the completion of the sale, the insider owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC bought a new position in shares of Antero Resources during the 4th quarter valued at about $228,000. Invesco Ltd. boosted its position in shares of Antero Resources by 18.0% in the 4th quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock valued at $172,291,000 after purchasing an additional 761,842 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Antero Resources by 35.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 60,111 shares of the oil and natural gas company’s stock worth $2,071,000 after purchasing an additional 15,800 shares in the last quarter. Vident Advisory LLC raised its holdings in Antero Resources by 10.3% during the 4th quarter. Vident Advisory LLC now owns 50,064 shares of the oil and natural gas company’s stock worth $1,725,000 after buying an additional 4,669 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its stake in Antero Resources by 15.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 9,480 shares of the oil and natural gas company’s stock valued at $327,000 after buying an additional 1,242 shares in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

About Antero Resources

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.