Antero Resources (NYSE:AR) Shares Break Below Two Hundred Day Moving Average – What’s Next?

Antero Resources Corporation (NYSE:AR) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $36.88 and traded as low as $36.38. Antero Resources shares last traded at $36.43, with a volume of 3,942,007 shares.

Wall Street Analyst Weigh In

AR has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Antero Resources from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Citigroup lifted their target price on Antero Resources from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Stifel Nicolaus began coverage on Antero Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $42.00 target price on the stock. UBS Group cut their price target on Antero Resources from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Jefferies Financial Group decreased their price target on Antero Resources from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.74.

Antero Resources Price Performance

The stock’s fifty day moving average price is $37.55 and its 200-day moving average price is $36.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $11.10 billion, a PE ratio of 8.16 and a beta of 0.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. increased its stake in Antero Resources by 5.9% in the 3rd quarter. Moors & Cabot Inc. now owns 9,673 shares of the oil and natural gas company’s stock valued at $323,000 after purchasing an additional 540 shares in the last quarter. Allworth Financial LP boosted its position in Antero Resources by 3.1% during the third quarter. Allworth Financial LP now owns 11,391 shares of the oil and natural gas company’s stock worth $400,000 after purchasing an additional 347 shares in the last quarter. Eurizon Capital SGR S.p.A. boosted its position in Antero Resources by 11.0% during the third quarter. Eurizon Capital SGR S.p.A. now owns 3,139,845 shares of the oil and natural gas company’s stock worth $105,011,000 after purchasing an additional 310,628 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in Antero Resources by 22.1% during the third quarter. Maryland State Retirement & Pension System now owns 17,954 shares of the oil and natural gas company’s stock worth $599,000 after purchasing an additional 3,249 shares in the last quarter. Finally, Jacobi Capital Management LLC acquired a new stake in Antero Resources in the third quarter valued at $38,000. 83.04% of the stock is owned by hedge funds and other institutional investors.

About Antero Resources

Antero Resources Corporation is an independent energy company engaged in the development, production, exploration and acquisition of natural gas, natural gas liquids (NGLs) and oil. The company’s operations are focused primarily on the Appalachian Basin in the United States.

Antero Resources holds extensive interests in the Marcellus and Utica shale formations, with drilling and production activities concentrated in West Virginia and Ohio. Its product portfolio includes natural gas, ethane, propane, butane, natural gasoline and oil or condensate, which are marketed to domestic and international energy customers.

Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.