Antero Resources (NYSE:AR) Stock Price Up 4.1% – Here’s What Happened

Antero Resources Corporation (NYSE:AR)’s stock price rose 4.1% during trading on Friday. The company traded as high as $38.04 and last traded at $37.9290. 1,259,155 shares traded hands during trading, a decline of 75% from the average session volume of 5,049,196 shares. The stock had previously closed at $36.44.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AR. Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Antero Resources in a research note on Thursday, July 30th. Texas Capital raised shares of Antero Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Scotiabank started coverage on shares of Antero Resources in a research note on Wednesday. They issued a “sector outperform” rating and a $46.00 target price for the company. Weiss Ratings lowered shares of Antero Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Citigroup decreased their price target on shares of Antero Resources from $53.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Antero Resources has a consensus rating of “Moderate Buy” and a consensus target price of $48.11.

Antero Resources Stock Performance

The firm has a market cap of $11.76 billion, a PE ratio of 10.99 and a beta of 0.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average price of $36.89 and a 200 day moving average price of $36.48.

Hedge Funds Weigh In On Antero Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Antero Resources in the second quarter valued at $966,982,000. Dimensional Fund Advisors LP increased its holdings in Antero Resources by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock valued at $434,597,000 after buying an additional 1,153,422 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Antero Resources by 177.4% during the first quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock worth $153,261,000 after purchasing an additional 2,309,388 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Antero Resources by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,478,218 shares of the oil and natural gas company’s stock valued at $147,616,000 after buying an additional 377,010 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Antero Resources during the 2nd quarter valued at approximately $100,212,000. 83.04% of the stock is owned by institutional investors and hedge funds.

Antero Resources Company Profile

Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company’s operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero’s asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.