The Vanguard Group, Inc. recently announced the acquisition of new stake in Antero Resources Corp (NYSE:AR). The institutional investor has increased its shareholding in the Energy company by 0.44% to 27.12 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 9.02% valued currently at $640.74 million. In addition, BlackRock Fund Advisors raised its holdings by 0.68 million to 23.03 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.63% or 69606.0 shares – to 11.05 million shares.
With over 9.17 million Antero Resources Corp (AR) shares trading Friday and a closing price of $23.25 on the day, the dollar volume was approximately $213.17 million. The shares have shown a positive half year performance of 3.56% and its price on 01/05/24 gained nearly 3.84%. Currently, there are 297.36M common shares owned by the public and among those 277.29M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for AR have a consensus price objective of $30.28. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $24.00. The average price target is 23.34% above its recent price level and an upside to the estimated low will see the stock gain 3.12% over that period. But an upside of 38.82% will see the stock hit the forecast high price target while median target price for the stock is $31.00.
Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 733,499 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 690,662 shares.
The top 3 mutual fund holders in Antero Resources Corp are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 8.71 million shares of the company’s stock, all valued at over $205.82 million. The company bought an additional 1545.0 shares recently to bring their total holdings to about 2.90% of the shares outstanding. Vanguard Total Stock Market ETF bought 11136.0 shares to see its total holdings expand to 8.49 million shares valued at over $200.73 million and representing 2.83% of the shares outstanding. Vanguard Small Cap Index Fund bought 30261.0 shares to bring its total holdings to over 7.0 million shares at a value of $165.49 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Antero Resources Corp (NYSE: AR) opened at $22.38, down -$0.01 from a prior closing price of $22.39. However, the script later moved the day high at 23.25, up 3.84%. The company’s stock has a 5-day price change of 1.40% and -5.33% over the past three months. AR shares are trading 2.51% year to date (YTD), with the 12-month market performance down to -20.78% lower. It has a 12-month low price of $19.91 and touched a high of $30.90 over the same period. AR has an average intraday trading volume of 5.01 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 5.36%, -5.95%, and -4.44% respectively.
Institutional ownership of Antero Resources Corp (NYSE: AR) shares accounts for 80.38% of the company’s 297.36M shares outstanding. Mutual fund holders own 33.96%, while other institutional holders and individual stakeholders account for 47.21% and 20.49% respectively.
It has a market capitalization of $6.99B and a beta (3y monthly) value of 3.30. The stock’s trailing 12-month PE ratio is 8.38, while the earnings-per-share (ttm) stands at $2.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.52% over the week and 3.51% over the month.
Analysts forecast that Antero Resources Corp (AR) will achieve an EPS of $0.34 for the current quarter, $0.51 for the next quarter and $2.27 for 2024. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.62. Comparatively, EPS for the current quarter was $1.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -88.01%, and 145.38% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Antero Resources Corp (AR) as a “Moderate Buy” at a consensus score of 2.19. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 10 of the 21 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. Mizuho stated their Neutral rating for the stock in a research note on January 03, 2024, with the firm’s price target at $27.
