Antero Resources Corporation (AR) Stock Price & Analysis
Antero Resources Corporation (AR) closed at USD 39.04 on Thursday, October 22, 2026, up 1.38% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 38.51; the Oct 22, 2026 session ranged USD 37.37–39.14 on volume of 4,181,686 shares. Market capitalization is $12.00B, with a 52-week range of USD 29.1–45.75 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AR.md
Key facts (AR)
- Last four reported quarters (through Jun 30, 2026): revenue $6.13B, net income $1.12B (18.3% margin) (SEC filings).
- Valuation: P/E 10.7x (avg 52.3x at the last 3 fiscal year-ends), EV/EBITDA 6.3x, net debt $2.61B.
- 2 of 80 tracked superinvestors hold AR (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $8.9M; 1 not under a Rule 10b5-1 plan ($1.6M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.18 on a 1–5 scale) (22 analysts), mean target USD 49.64 (range 40–58).
- Total return with dividends: 1Y +19.1% vs S&P 500 +14.9%; 5Y +92.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.98, revenue estimate $1.60B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.62B | $7.14B | $4.68B | $4.33B | $5.28B | $6.13B |
| Operating income | $23.9M | $2.54B | $396M | $460K | $884M | $1.51B |
| Net income | -$154M | $2.00B | $297M | $93.7M | $675M | $1.12B |
| EPS (diluted) | -$0.61 | $5.69 | $0.64 | $0.18 | $2.03 | — |
| Free cash flow | $944M | $2.11B | — | — | — | — |
| Operating margin | 0.5% | 35.6% | 8.5% | 0.0% | 16.7% | 24.7% |
| Net margin | -3.3% | 28.0% | 6.4% | 2.2% | 12.8% | 18.3% |
| Revenue growth | +32.3% | +54.5% | -34.4% | -7.6% | +22.0% | — |
| Cash + short-term investments | $0K | $0K | $0K | $0K | $210M | — |
| Total debt | $2.13B | $1.18B | $1.54B | $1.49B | $1.40B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AR)
P/E 10.7x · P/S 2.0x · EV/EBITDA 6.3x · EV/Sales 2.4x · P/B 1.4x · Earnings yield 9.36% · Net debt $2.61B · EV $14.6B
P/E at fiscal year-ends: Dec 2025 16.0x, Dec 2024 117.2x, Dec 2023 23.8x.
Superinvestors (SEC 13F-HR, Q2 2026) (AR)
2 of 80 tracked investors hold AR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 1.42% | $55.3M | Added +94.7% |
| Van Den Berg Management I | 0.06% | $269K | Reduced -4.0% |
Insider sales (SEC Form 4, open-market, last ~7 months) (AR)
1 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-04 | Schultz Yvette K | See Remarks | 39,490 | $1.6M | 12.5% | No | Too little history (no open-market trades in 2023) |
| 2026-05-04 | Kennedy Michael N. | See Remarks | 185,826 | $7.3M | 14.6% | Yes (adopted November 6, 2025) | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (AR)
Consensus Buy (mean 2.18 on a 1–5 scale), 22 analysts; mean target USD 49.64 (low 40, high 58).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Scotiabank | Initiated | Sector Outperform | $46 |
| 2026-10-15 | Morgan Stanley | Target raised | Overweight | $49 → $51 |
| 2026-10-08 | Mizuho | Target lowered | Outperform | $57 → $51 |
| 2026-10-06 | UBS | Target lowered | Buy | $58 → $54 |
| 2026-10-05 | Truist Securities | Target lowered | Buy | $52 → $46 |
| 2026-10-02 | Jefferies | Target lowered | Buy | $60 → $56 |
| 2026-09-14 | UBS | Target raised | Buy | $52 → $58 |
| 2026-09-02 | Goldman Sachs | Target raised | Buy | $42 → $48 |
| 2026-09-01 | Raymond James | Target raised | Strong Buy | $50 → $55 |
| 2026-08-17 | Barclays | Target lowered | Equal-Weight | $46 → $45 |
| 2026-08-12 | Benchmark | Target raised | Buy | $44 → $47 |
| 2026-08-03 | Citigroup | Target lowered | Buy | $53 → $45 |
Total return (dividends reinvested) (AR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +19.1% | +92.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +19.2% | +14.0% |
| Volatility (annualized) | 37.8% | 47.6% |
| Max drawdown | -26.4% (Mar 2026→Jun 2026) | -53.6% (Jun 2022→Dec 2023) |
AR revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Exploration & Production | $1.50B | 96.4% | +19.0% |
| Antero Midstream | $327.2M | 21.0% | +7.1% |
| Marketing | $56.1M | 3.6% | +66.2% |
| Total revenue | $1.56B | 100% | — |
AR revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Natural Gas Production | $688.5M | 44.1% | -0.0% |
| — Natural Gas Liquids Sales (part of Natural Gas Production) | $587.7M | 37.7% | +22.2% |
| — Natural Gas Liquids Sales Ethane (part of Natural Gas Production) | $99.0M | 6.3% | +26.1% |
| — Other Revenue & Income (part of Natural Gas Production) | $1.5M | 0.1% | +81.5% |
| Natural Gas Liquids Sales C3 Ngls | $488.7M | 31.3% | +21.5% |
| Commodity Derivative Fair Value Gains Losses | $160.6M | 10.3% | +200.8% |
| Oil & Condensate | $59.6M | 3.8% | +76.8% |
| Marketings | $56.1M | 3.6% | +66.2% |
| Amortization Of Deferred Revenue Vpp | $5.9M | 0.4% | -7.0% |
| Other | $1.0M | 0.1% | +267.4% |
| Total revenue | $1.56B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
AR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Antero Midstream Corp (AM) | “Antero Midstream Partners.” |
Quoted from the company's 10-K filed Feb 11, 2026.
Companies that name AR in their SEC reports
| Relationship to AR | Company | Filing | Sentence |
|---|---|---|---|
| supplier | Antero Midstream Corp (AM) | 10-K Feb 11, 2026 | “Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in North America.” |
AR customer concentration
In the period ended Dec 31, 2024, a single direct customer accounted for 16% of revenue, per the company's 10-K filed Feb 11, 2026. The company does not name it.
AR company outlook (results filed Jul 29, 2026)
- “Further, while the region's gross production has remained flat, net production to Antero is expected to exit the year over 25% higher than the prior year.””
- “Brendan Krueger, CFO of Antero Resources said, “Our recently announced cost reduction initiative is expected to decrease our cost structure by $0.70 per Mcfe from 2025 levels, or 25% in total by year-end 2028.”
Quoted word-for-word from the SEC 8-K results press release.
AR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.98 | $0.94 | +4.2% | $1.60B | 16 |
| Next quarter (ends Dec 2026) | $1.42 | $1.06 | +32.9% | $1.79B | 15 |
| Current fiscal year (ends Dec 2026) | $4.46 | $4.15 | +7.3% | $6.81B | 17 |
| Next fiscal year (ends Dec 2027) | $4.67 | $4.20 | +11.1% | $6.86B | 17 |
AR options: expected move
Options price a move of about ±5.8% (±$2.28) by Oct 30, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±3.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 49.4% | ±5.8% |
| Nov 6, 2026 | 14 | 43.6% | ±7.0% |
| Nov 13, 2026 | 21 | 43.8% | ±8.5% |
| Nov 20, 2026 | 28 | 40.5% | ±9.1% |
| Nov 27, 2026 | 35 | 40.3% | ±10.1% |
| Dec 4, 2026 | 42 | 38.5% | ±10.5% |
| Dec 18, 2026 | 56 | 38.5% | ±12.1% |
| Jan 15, 2027 | 84 | 36.5% | ±14.0% |
30-day implied volatility 41.2% vs 41.3% realized over the last 30 trading days. Put/call ratio (volume) 0.54. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 39.04 |
|---|---|
| Change | ▲ 1.38% (up) |
| Previous Close | USD 38.51 |
| Open | USD 38.85 |
| Day Range | USD 37.37 – 39.14 |
| 52-Week Range | USD 29.1 – 45.75 |
| Volume | 4,181,686 shares |
| Market Cap | $12.00B |
| Exchange | NYQ |
Technical Analysis (AR)
Nexqual's technical model rates AR "BUY" based on 5 bullish and 1 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 59.97 (neutral) |
| vs SMA50 | Above (USD 37.02) |
| MACD | 0.68 (positive) |
Analyst Ratings (AR)
Wall Street analysts rate AR "Buy" based on 22 analysts, with a mean price target of USD 49.64 (range USD 40–58), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 22 |
| Mean Target | USD 49.64 |
| High Target | USD 58 |
| Low Target | USD 40 |
| Buy / Hold / Sell | 15 / 7 / 0 |
Earnings (AR)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.98 |
| Revenue Estimate | $1.60B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.76 vs est 0.85 ▼ miss |
| 2026-03-31 | USD 1.15 vs est 1.14 ▲ beat |
| 2025-12-31 | USD 0.43 vs est 0.52 ▼ miss |
| 2025-09-30 | USD 0.16 vs est 0.25 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (AR)
| Total Revenue | $5.78B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.60% |
| Gross Margin | +67.15% |
| Operating Margin | +26.02% |
| Profit Margin | +18.75% |
| ROE | +14.22% |
| Debt / Equity | 0.55 |
| Current Ratio | 0.4 |
| Total Debt | $4.62B |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (AR)
Nexqual rates Antero Resources Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Strong — Revenue +22% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 67%, operating 26% (last 12 months) |
| Balance Sheet | Mixed — $0 cash and investments vs $2.61B debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $1.63B (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — ROE 14%, ROA 6.6% |
Ownership (AR)
| Insider Ownership | +4.41% |
|---|---|
| Institutional Ownership | +91.49% |
| Shares Outstanding | 307.44M |
| Float | 296.18M |
| Short % of Float | +4.49% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (AR)
Antero Resources Corporation is led by Michael N. Kennedy, CEO, President & Director, per Nexqual as of October 23, 2026 at 09:23 UTC.
| CEO, President & Director | Michael N. Kennedy |
|---|---|
| Co-Founder & Chairman Emeritus | Paul M. Rady |
| CFO, Senior VP of Finance & Treasurer | Brendan E. Krueger |
| Senior Vice President of Operations | Jon S. McEvers |
| Director of Finance and Investor Relations | Daniel Philip Katzenberg |
Major Backers & Investors (AR)
Notable institutional backers of Antero Resources Corporation include FMR, LLC, Sourcerock Group, LLC, Invesco, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 5.44% |
| Sourcerock Group, LLC | 2.82% |
| Invesco | 2.62% |
| AQR Capital Management, LLC | 2.48% |
| Fidelity | 2.46% |
| AIM Sector Funds (Invesco Sector Funds)-Invesco Small Cap Value Fund | 2.28% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.95% |
| Vanguard Group | 8.89% |
| Dimensional Fund Advisors | 4.13% |
| State Street | 3.71% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Legal & Regulatory Risks from Antero Resources Corporation's Latest 10-K (filed 2026-02-11)
- Legal proceedings brought against us could result in substantial liabilities and materially and adversely impact our financial condition.
- We are subject to complex federal, state, local and other laws and regulations that could adversely affect the cost, manner or feasibility of conducting our operations or expose us to significant liabilities.
- Regulations related to the protection of wildlife could adversely affect our ability to conduct drilling activities in some of the areas where we operate.
- Changes in tax laws or the interpretation thereof or the imposition of new or increased taxes or fees may increase our future tax liabilities and adversely affect our operating results and cash flows.
Source: SEC EDGAR 10-K, Item 1A, official filing.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| RRC | Range Resources Corporation | USD 43.86 | ▲ 2.14% |
| SM | SM Energy Company | USD 38.42 | ▼ 0.49% |
| APA | APA Corporation | USD 49.44 | ▼ 0.38% |
| CHRD | Chord Energy Corporation | USD 150.48 | ▼ 0.25% |
| VIST | Vista Energy S.A.B. de C.V. | USD 70.61 | ▼ 1.16% |
| OVV | Ovintiv Inc. (DE) | USD 69.3 | ▼ 0.8% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
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