Why Has JP Morgan Given Antero Resources (NYSE:AR) a $19.00 Price Target
Equities researchers at JP Morgan gave a key Underweight rating for Antero Resources (NYSE:AR). The firm began issuing coverage in an analyst note released on 9 December. The target suggests downside of -2.91% from the last stock close.
From a total of 26 analysts covering Antero Resources (NYSE:AR) stock, 17 rate it a ”Buy”, 1 a “Sell”, and 11 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $60 while the lowest target price is $20. The mean of all analyst targets is $33.62 with a 56.52% above today’s ($19.57) stock price. Antero Resources was the topic of 30 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on November 17 with “Buy” rating. Raymond James maintained AR stock in a recent report from September 21 with “Outperform” rating. Finally, Stephens downgraded the stock to “Equal Weight” rating in a report issued on an August 4.
The stock closed the day at $19.57 during the previous session. It is down 55.57% since May 6, 2015 and is downtrending. It has underperformed by 54.78% the S&P500.
The overall sentiment of institutions has decreased to 1.04 in Q2 2015. Its down 0.24, from 1.28 in 2015Q2. The ratio is negative, as 44 institutions have sold all the shares of Antero Resources Corp that they owned while 54 funds have taken shares off the table. 25 funds have purchased shares for the first time while 77 added to their positions. These institutions now hold 313.87 million shares or 10.51% more than the 284.01 million shares they owned in 2015Q2.
The Fund Warburg Pincus Llc currently is holding shares equating to 53.3% of its total portfolio in Antero Resources Corp representing a total of 200.17 million shares. Another fund,Socratic Fund Management L.P., is holding a total of 125,000 shares equating to 22.08% of their holdings. Additionally, Farmstead Capital Management Llc has a 918,873 share stake in Antero Resources Corp which represents 21.18% of their total portfolio. The Fund, Finepoint Capital Lp, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 10.74% of their total portfolio. Finally Sailingstone Capital Partners Llc, a fund which is based in the state of California reported a total holdings of 12.71 million shares.
Antero Resources Corporation is engaged in the exploitation, development, and acquisition of natural gas, natural gas liquids and oil properties in the Appalachian Basin in West Virginia, Ohio, and Pennsylvania. The company has a market cap of $5.42 billion. The Firm targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to develop and produce natural gas, NGLs and oil from unconventional formations. It has 3.76 P/E ratio. The Firm has fresh water distribution activities in the Appalachian Basin, as well as gathering and compression activities through its consolidated subsidiary, Antero Midstream Partners LP.
According to Zacks Investment Research, “Antero Resources Corporation is an independent oil and natural gas company. It is primarily engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. Antero Resources Corporation is headquartered in Denver, Colorado.” Get a free copy of the Zacks research report on Antero Resources Corp (AR).