- Giugno 25, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Another company focused on the hydrocarbon space, Antero Resources is based out of Denver, CO and has market cap of $10.7 billion. As of December 31, 2021, the company had 17,729 billion cubic feet of estimated proved reserves, of which 61% was natural gas, 21% was ethane, 17% was natural gas liquids, and 1% was petroleum.
The company’s latest results for the first quarter were decent, with both revenue and earnings witnessing yearly growth.
Revenues for the quarter rose to $1.2 billion, up 53% from the prior year. Meanwhile, earnings came in at $1.15 per share which denotes a year-over-year growth of 85.5%.
Average net production for the quarter stood at 3.2 Bcfe/d, including 160 MBbl/d of liquids.
Freeman reiterated a Buy rating on the stock while raising his price target from $52 to $60, which implies an upside potential of 74.6% from current levels.
Freeman expects that the company’s continued net debt reduction endeavors are going to result in 2022 shareholder yields of 13%-14%, and 2023 shareholder yields of around 20%.
Freeman has a success rate of 71% in the stock. The analyst has rated the stock a total of 50 times. Further, he has generated an average profit of 57.9% on the stock.
Overall, the Wall Street community is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on six Buys and two Holds. The average AR price target of $47.50 implies the stock has upside potential of 38.2% from current levels.