Antero Resources Corp (NYSE:AR)’s share price reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $7.08 and last traded at $7.10, with a volume of 236023 shares. The stock had previously closed at $7.25.
The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.24 billion. Antero Resources had a positive return on equity of 3.67% and a negative net margin of 9.60%. Antero Resources’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS.
Several research firms have issued reports on AR. Guggenheim set a $19.00 target price on Antero Resources and gave the stock a “buy” rating in a research note on Thursday, February 14th. Tudor Pickering cut Antero Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. TheStreet cut Antero Resources from a “c-” rating to a “d+” rating in a research note on Thursday, February 7th. Capital One Financial cut Antero Resources from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, March 20th. Finally, Goldman Sachs Group started coverage on Antero Resources in a research note on Friday, April 12th. They issued a “buy” rating and a $10.50 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.19.
In related news, insider Paul M. Rady bought 12,239 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $8.34 per share, with a total value of $102,073.26. Following the purchase, the insider now directly owns 9,579,520 shares of the company’s stock, valued at approximately $79,893,196.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul M. Rady bought 12,200 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $8.30 per share, with a total value of $101,260.00. The disclosure for this purchase can be found here. Insiders own 9.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. grew its stake in Antero Resources by 50.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 3,000 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Antero Resources by 3,191.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,654 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 3,543 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Antero Resources during the 4th quarter worth $45,000. Financial Architects Inc acquired a new position in Antero Resources during the 4th quarter worth $56,000. Finally, Comerica Bank acquired a new position in Antero Resources during the 1st quarter worth $87,000. 99.02% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $2.23 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.95 and a quick ratio of 0.95.
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Antero Resources Company Profile (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, 2018, the company had approximately 486,000 net acres in the southwestern core of the Marcellus Shale; 125,000 net acres in the core of the Utica Shale; and 209,000 net acres of Marcellus Shale leasehold.
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