Antero Resources Got Some Good News

By Carrie Williams

In a report released today, Josh Silverstein from Deutsche Bank upgraded Antero Resources (NYSE: AR) to Buy, with a price target of $30. The company’s shares closed last Friday at $24.95.

According to TipRanks.com, Silverstein is a top 25 analyst with an average return of 28.6% and a 74.5% success rate. Silverstein covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Continental Resources, and Gulfport Energy Corp.

Antero Resources has an analyst consensus of Moderate Buy, with a price target consensus of $32.

Based on Antero Resources’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $586 million and quarterly net profit of $238 million. In comparison, last year the company earned revenue of $364 million and had a net profit of $534 million.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock.

Antero Resources Corp. is an independent oil and natural gas company, which engages in the exploration, development and acquisition of unconventional oil and liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. It focuses on unconventional reservoirs, which can generally be characterized as fractured shales and tight sand formations. The company was founded by Paul M. Rady and Glen C. Warren, Jr. in June 2002 and is headquartered in Denver, CO.