Fidelity Management & Research Co recently announced the acquisition of new stake in Antero Resources Corporation (NYSE:AR). The institutional investor has increased its shareholding in the Energy company by 2.57% to 39.57 million shares with purchase of 0.99 million shares. This fresh investment now brings its stake to 13.18% valued currently at $1.45 billion. In addition, Dimensional Fund Advisors LP raised its holdings by 0.18 million to 9.19 million shares. And FIAM LLC has lifted its position by 5.00% or 0.29 million shares – to 6.07 million shares.
With over 6.6 million Antero Resources Corporation (AR) shares trading Monday and a closing price of $34.35 on the day, the dollar volume was approximately $226.69 million. The shares have shown a negative half year performance of -12.75% and its price on 11/21/22 gained nearly 0.53%. Currently, there are 305.34M common shares owned by the public and among those 263.99M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for AR have a consensus price objective of $48.67. The analysts have set the share’s price value over the next 12 months at a high of $61.00 and a low of $34.00. The average price target is 30.75% above its recent price level and a downside to the estimated low will see the stock lose -1.03% over that period. But an upside of 43.69% will see the stock hit the forecast high price target while median target price for the stock is $48.00.
Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 51 of these insider trades were purchases, accounting for 2,218,760 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 2,287,148 shares.
The top 3 mutual fund holders in Antero Resources Corporation are Fidelity Advisor Series I -Growth, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Fidelity Advisor Series I -Growth owns 10.83 million shares of the company’s stock, all valued at over $396.87 million. The company bought an additional 1.16 million shares recently to bring their total holdings to about 3.61% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 3290.0 shares to see its total holdings expand to 8.46 million shares valued at over $310.27 million and representing 2.82% of the shares outstanding. Vanguard Total Stock Market Index bought 33333.0 shares to bring its total holdings to over 8.26 million shares at a value of $302.9 million. Vanguard Total Stock Market Index now owns shares totaling to 2.75% of the shares outstanding.
Shares of Antero Resources Corporation (NYSE: AR) opened at $33.80, down -$0.37 from a prior closing price of $34.17. However, the script later moved the day high at 34.44, up 0.53%. The company’s stock has a 5-day price change of -4.90% and -18.66% over the past three months. AR shares are trading 96.29% year to date (YTD), with the 12-month market performance up to 88.94% higher. It has a 12-month low price of $15.38 and touched a high of $48.80 over the same period. AR has an average intraday trading volume of 7.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.93%, -2.23%, and 0.77% respectively.
Institutional ownership of Antero Resources Corporation (NYSE: AR) shares accounts for 79.90% of the company’s 305.34M shares outstanding. Mutual fund holders own 29.05%, while other institutional holders and individual stakeholders account for 48.28% and 20.82% respectively.
It has a market capitalization of $10.65B and a beta (3y monthly) value of 3.57. The stock’s trailing 12-month PE ratio is 5.39, while the earnings-per-share (ttm) stands at $6.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.63% over the week and 5.15% over the month.
Analysts forecast that Antero Resources Corporation (AR) will achieve an EPS of $1.69 for the current quarter, $2.75 for the next quarter and $8.37 for 2023. The lowest estimate earnings-per-share for the quarter is $1.07 while analysts give the company a high EPS estimate of $2.39. Comparatively, EPS for the current quarter was $0.46 a year ago. Earnings per share for the fiscal year are expected to increase by 87.00%, and 31.08% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Antero Resources Corporation (AR) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AR, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on October 19, 2022, with the firm’s price target at $47. Scotiabank coverage for the Antero Resources Corporation (AR) stock in a research note released on July 25, 2022 offered a Sector Perform rating with a price target of $47. Truist was of a view on July 05, 2022 that the stock is Buy, while Goldman gave the stock Buy rating on January 21, 2022, issuing a price target of $21- $24. BMO Capital Markets on their part issued Outperform rating on January 10, 2022.