As of the first quarter of 2023, the Bank of New York Mellon Corp has decreased its stake in Antero Resources Co. (NYSE:AR) by 5.2%, according to recent information filed with the Securities and Exchange Commission (SEC). The institutional investor now holds 2,852,418 shares of the oil and natural gas company’s stock after selling 157,754 shares during this period. At the end of the most recent quarter, Bank of New York Mellon Corp’s ownership in Antero Resources amounted to approximately 0.95% and was valued at $65,862,000.
Antero Resources (NYSE:AR) recently announced its quarterly earnings results as of July 27th. For the quarter, the company reported earnings per share (EPS) of ($0.28), surpassing the consensus estimate by $0.01. The company generated revenue of $953.31 million during this period, compared to analysts’ expectations of $935.87 million. Although Antero Resources experienced a decline in revenue by 56.7% compared to the same quarter last year, it had a return on equity of 13.17% and a net margin of 21.81%. In the previous year’s corresponding period, Antero Resources posted earnings per share of $1.69.
Antero Resources Corporation is an independent oil and natural gas company that focuses on developing, producing, exploring and acquiring natural gas, natural gas liquids (NGLs), and oil properties within the United States market. The company operates through three main segments: Exploration, Development and Production of Natural Gas, NGLs and Oil; Marketing and Utilization of Excess Firm Transportation Capacity; and Midstream Services Through Our Equity Method Investment in Antero Midstream.
While Antero Resources faced a decline in revenue over recent quarters due to various factors affecting the energy industry as a whole, it still demonstrates potential for growth in the future. Equities research analysts anticipate that Antero Resources Co. will achieve an EPS of 0.37 for the current year.
As an independent oil and gas company, Antero Resources faces the challenges and opportunities inherent in this sector of the economy. With a focus on developing its natural resources and exploring new possibilities, the company aims to continue making significant contributions to the energy industry within the United States.
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Institutional Investors Increase Holdings in Antero Resources as Stock Valuations Fluctuate
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”AR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]August 20, 2023 – Antero Resources, an oil and natural gas company, has seen some significant changes in its institutional investor holding positions. Raymond James Financial Services Advisors Inc. recently increased its position in shares of Antero Resources by a whopping 165.7% during the first quarter. This move saw Raymond James Financial Services Advisors Inc. acquire an additional 27,738 shares of the company’s stock, bringing their total ownership to 44,473 shares valued at $1,358,000.
Not to be outdone, US Bancorp DE also made a significant increase in its position in Antero Resources during the first quarter. Their holding surged by 3,532.9%, with US Bancorp DE acquiring an additional 2,473 shares valued at $78,000. Meanwhile, Bank of Montreal Can entered the picture as well and acquired a new stake in Antero Resources worth around $220,000.
Great West Life Assurance Co. Can didn’t want to miss out on the action either and increased its position in Antero Resources by 20.8% during the first quarter. Acquiring an additional 4,311 shares brought their total ownership to 25,046 shares valued at $813,000.
Lastly, Moors & Cabot Inc., like Bank of Montreal Can and US Bancorp DE before them, acquired a new stake in Antero Resources during the first quarter. Their purchase was worth approximately $230,000.
Institutional investors now hold approximately 79.64% of the total outstanding stocks of Antero Resources.
Antero Resources started trading on Friday with an opening price of $27.09 per share. The company has experienced a range of valuations over the past year—reaching its lowest point at $19.91 and hitting a high of $45.33 per share.
Analyzing moving averages is also crucial when assessing stocks’ performance, and Antero Resources showcases a 50-day moving average of $24.33 and a 200-day moving average of $23.84 per share.
Moreover, it’s worth noting that the company boasts a current ratio and quick ratio of 0.26, indicating its ability to cover short-term obligations. Additionally, Antero Resources holds a debt-to-equity ratio of 0.21, showcasing its management’s prudence in not taking on excessive debt.
As of today, Antero Resources has a market capitalization of approximately $8.14 billion, with a price-to-earnings ratio of 6.10 and a beta figure of 3.47.
In terms of research reports, several analysts have conducted studies on Antero Resources recently. Morgan Stanley reduced their target price for the company from $24.00 to $23.00 and maintained an “equal weight” rating on the stock.
Siebert Williams Shank also released coverage on Antero Resources, providing it with a “hold” rating and setting its price target at $27.00 per share.
JPMorgan Chase & Co., however, downgraded the company from an “overweight” rating to a “neutral” rating while decreasing its price target from $36.00 to $30.00 per share.
Mizuho also made revisions in its recommendations by lowering Antero Resources’ price target from $40.00 to $39.00 per share but maintained a favorable “buy” rating on the stock.
Lastly, JPMorgan Chase & Co boosted their price target on Antero Resources from $26.00 to $27.00 per share and provided an “equal weight” rating on Friday, July 28th.
Currently, there is one analyst who rates the stock as a sell, eight who give it hold ratings, and six who believe it is worth buying.
According to Bloomberg’s data analysis, Antero Resources has an average rating of “Hold” and a consensus target price of $33.50 per share.
For more information on Antero Resources and its latest report, please visit our website.
