Antero Resources (NYSE:AR) Issues Quarterly Earnings Results

Antero Resources (NYSE:AR) released its quarterly earnings data on Wednesday. The oil and natural gas company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.14), reports. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.57 billion. Antero Resources had a return on equity of 11.46% and a net margin of 21.22%. Antero Resources’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share.

Antero Resources Trading Up 2.0%

AR traded up $0.83 on Friday, hitting $42.03. The company had a trading volume of 3,821,558 shares, compared to its average volume of 5,081,868. The company’s fifty day moving average price is $37.47 and its 200 day moving average price is $36.70. Antero Resources has a 1 year low of $30.11 and a 1 year high of $45.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29. The firm has a market cap of $12.92 billion, a P/E ratio of 9.49 and a beta of 0.54.

Key Antero Resources News

Here are the key news stories impacting Antero Resources this week:

• Positive Sentiment: Analyst price-target increases: Wells Fargo raised its target from $57 to $58 and reiterated an “overweight” rating, while Truist lifted its target from $46 to $52 and assigned a “buy” rating. The new targets imply substantial potential upside. Wells Fargo analyst update
• Positive Sentiment: Sharp profit and production growth: Antero reported third-quarter net income of approximately $367 million, with production reaching a record level. Revenue increased about 29% year over year to roughly $1.56 billion, while operating cash flow reached approximately $575 million. Lower costs and effective hedging also supported profitability. Antero Resources Q3 profit and production report
• Positive Sentiment: Constructive near-term outlook: Management provided fourth-quarter production guidance, and the company’s strong operating performance and hedging strategy may offer some protection from natural-gas price volatility. Antero Resources fourth-quarter production guidance
• Neutral Sentiment: Mixed earnings metrics: Coverage cited adjusted third-quarter EPS ranging from $0.83 to $1.19, reflecting differences in reporting measures. Revenue was broadly in line with expectations, leaving investors focused on commodity prices, realized pricing and production execution.
• Negative Sentiment: Reported consensus miss: Zacks and MarketBeat stated that EPS of $0.83 fell short of estimates near $0.95-$0.97, which could limit upside if investors focus on the headline earnings comparison. Zacks Antero Resources earnings report

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AR shares. JPMorgan Chase & Co. reduced their target price on shares of Antero Resources from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Wolfe Research restated an “outperform” rating and set a $48.00 price objective on shares of Antero Resources in a report on Thursday, July 30th. The Goldman Sachs Group raised their price objective on Antero Resources from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Raymond James Financial lifted their price objective on shares of Antero Resources from $50.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Citigroup cut their price target on shares of Antero Resources from $53.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Five research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.47.

Antero Resources Company Profile

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.