Antero Resources (AR) AI Stock Analysis

• Market Cap: $9.68B
• Dividend Yield: N/A
• Average Volume (3M): 4.83M
• Price to Earnings (P/E): 18.5
• Beta (1Y): 0.75
• Revenue Growth: 17.05%
• EPS Growth: 1028.81%
• Country: US
• Employees: 616
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.15
• Shares Outstanding: 308,494,000
• 10 Day Avg. Volume: 4,379,277
• 30 Day Avg. Volume: 4,832,631
• PEG Ratio: -2.61
• Price to Book (P/B): 1.54
• Price to Sales (P/S): 2.63
• P/FCF Ratio: 14.51
• Enterprise Value/Market Cap: 1.44
• Enterprise Value/Revenue: 2.83
• Enterprise Value/Gross Profit: 14.60
• Enterprise Value/Ebitda: 9.16
• 1Y Price Target: $45.40
• Price Target Upside: 41.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $38.00 ▲(18.09% Upside)

The score is driven primarily by improved financial performance (strong current margins, free cash flow, and reduced leverage) and a constructive earnings-call outlook highlighting operational records and hedging support. Offsetting these positives are only neutral technicals (weak MACD and trading below longer-term averages) and a mid-range valuation with no dividend yield data provided, plus some uncertainty around NGL pricing and asset transaction execution.

Positive Factors

Operational Efficiency

Improved drilling and completion efficiencies enhance production capabilities, reducing costs and increasing output, which supports long-term growth.

Debt Reduction

Significant debt reduction strengthens the balance sheet, improving financial stability and reducing interest expenses, which enhances future profitability.

NGL Pricing Premium

Securing premium pricing for NGLs boosts revenue potential, enhancing competitive positioning and profitability in the long run.

Negative Factors

Revenue Volatility

Volatile revenue trends can hinder strategic planning and investment, posing risks to sustained growth and financial performance.

High Leverage

High leverage increases financial risk, potentially limiting flexibility in capital allocation and increasing vulnerability to economic downturns.

Natural Gas Market Uncertainty

Market uncertainties can affect pricing and demand for natural gas, impacting revenue stability and strategic planning.

Antero Resources Business Overview & Revenue Model

Company Description

Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2021, it had approximately 502,000 net acres in the Appalachian Basin; and 174,000 net acres in the Upper Devonian Shale. The company also owned and operated 494 miles of gas gathering pipelines in the Appalachian Basin; and 21 compressor stations. It had estimated proved reserves of 17.7 trillion cubic feet of natural gas equivalent, including 10.2 trillion cubic feet of natural gas; 718 million barrels of assumed recovered ethane; 501 million barrels of primarily propane, isobutane, normal butane, and natural gasoline; and 36 million barrels of oil. The company was formerly known as Antero Resources Appalachian Corporation and changed its name to Antero Resources Corporation in June 2013. Antero Resources Corporation was founded in 2002 and is headquartered in Denver, Colorado.

How the Company Makes Money

Antero Resources makes money through the production and sale of natural gas, NGLs, and oil. The company's revenue model is centered around the extraction and sale of these commodities from its extensive assets in the Appalachian Basin. Revenue is generated through the sale of natural gas and NGLs to a diverse customer base, including utilities, industrial customers, and other energy companies. Antero Resources also benefits from strategic midstream partnerships and joint ventures, which enhance its distribution capabilities and provide additional revenue streams through infrastructure and transportation services. Additionally, the company engages in hedging activities to manage commodity price risks, which can impact its overall earnings.

Antero Resources Financial Statement Overview

Summary

Current profitability and cash generation are solid (TTM net margin ~11%, EBITDA margin ~31%, and strong free cash flow), and leverage has improved meaningfully (debt-to-equity ~0.49). The main constraint is cyclical earnings and margin volatility across 2022–2024.

Income Statement

Profitability has improved materially versus prior years, with TTM (Trailing-Twelve-Months) net margin at ~11% and EBITDA margin at ~31% versus very low profitability in 2024 (~1% net margin). Revenue is back to growth in TTM (up ~4%), but results remain cyclical: 2022 was exceptionally strong while 2023–2024 saw revenue declines and sharp margin compression. Overall, the earnings profile is solid today but less consistent across the cycle.

Balance Sheet

Leverage is moderate and trending better, with debt-to-equity improving from ~0.96–0.97 (2020–2021) to ~0.49 in TTM (Trailing-Twelve-Months), indicating meaningful balance sheet repair. Equity is sizable relative to assets, supporting financial flexibility. That said, returns on equity are currently modest (~7.6% in TTM) and the business remains exposed to commodity-driven asset and earnings volatility, which can pressure credit metrics in down cycles.

Cash Flow

Cash generation is a clear strength: TTM (Trailing-Twelve-Months) operating cash flow is ~$1.54B and free cash flow is ~$1.31B, with free cash flow running at ~85% of net income—supporting quality of earnings. Operating cash flow coverage is healthy in TTM (~1.11) and was very strong in 2022 (~1.72), though it dipped below 1.0 in 2020–2024, highlighting some variability. Free cash flow growth is slightly negative in TTM (down ~3%), suggesting normalization after stronger prior periods.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.92B	4.12B	4.28B	8.30B	5.79B	3.08B
Gross Profit	954.21M	327.33M	612.47M	4.59B	2.26B	-514.44M
EBITDA	1.52B	859.55M	1.23B	3.29B	699.51M	-592.73M
Net Income	547.72M	57.23M	198.40M	1.87B	-186.90M	-1.27B
Balance Sheet
Total Assets	12.91B	13.01B	13.52B	14.12B	13.90B	13.15B
Cash, Cash Equivalents and Short-Term Investments	0.00	0.00	0.00	0.00	0.00	0.00
Total Debt	3.57B	4.03B	4.51B	4.63B	5.55B	5.62B
Total Liabilities	5.39B	5.79B	6.38B	7.10B	7.83B	7.06B
Stockholders Equity	7.35B	7.02B	6.90B	6.75B	5.76B	5.77B
Cash Flow
Free Cash Flow	1.31B	747.36M	827.20M	2.89B	1.55B	687.55M
Operating Cash Flow	1.54B	849.29M	994.72M	3.05B	1.66B	735.64M
Investing Cash Flow	-980.09M	-714.15M	-1.14B	-943.61M	-710.78M	-530.06M
Financing Cash Flow	-558.10M	-135.13M	146.05M	-2.11B	-949.33M	-205.58M

Antero Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 32.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AR, the sentiment is Negative. The current price of 32.18 is below the 20-day moving average (MA) of 33.70, below the 50-day MA of 34.22, and below the 200-day MA of 34.98, indicating a bearish trend. The MACD of -0.67 indicates Positive momentum. The RSI at 42.07 is Neutral, neither overbought nor oversold. The STOCH value of 13.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AR.

Antero Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PR	77 Outperform	$11.65B	12.82	8.58%	4.27%	7.55%	-34.40%
CHRD	76 Outperform	$5.24B	35.66	2.02%	5.73%	8.43%	-86.63%
APA	73 Outperform	$8.94B	6.06	27.24%	3.80%	4.88%	-41.34%
RRC	71 Outperform	$7.93B	14.05	14.18%	1.00%	23.88%	20.55%
AR	67 Neutral	$9.68B	18.52	7.65%	―	17.05%	1028.81%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
OVV	60 Neutral	$9.79B	42.37	2.26%	3.16%	-8.07%	-87.88%

Antero Resources Corporate Events

Antero Resources Acquires HG Energy II Assets

On December 5, 2025, Antero Resources Corporation announced a strategic acquisition of HG Energy II’s upstream and midstream assets for a total of $3.9 billion, aiming to expand its core Marcellus Shale footprint and enhance its production capabilities. Concurrently, Antero plans to divest its non-core Ohio Utica Shale assets for $1.2 billion, with both transactions expected to close in the first half of 2026. These moves are designed to optimize Antero’s asset portfolio, improve financial metrics, and maintain an investment-grade balance sheet, while generating significant free cash flow and reducing leverage.

The most recent analyst rating on (AR) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on Antero Resources stock, see the AR Stock Forecast page.

Antero Resources Updates Investor Presentation

On November 12, 2025, Antero Resources Corporation, a company involved in the energy sector, updated its investor presentation on its website. This update is not considered filed for purposes of the Securities Exchange Act of 1934 and is not subject to its liabilities, nor is it incorporated by reference in any filing under the Securities Act of 1933.

The most recent analyst rating on (AR) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Antero Resources stock, see the AR Stock Forecast page.