AR: Share Repurchases Will Drive Stronger Future Returns

Narrative Update on Analyst Price Target

Analysts have nudged their price target on Antero Resources slightly higher, to approximately 42.14 dollars from about 42.10 dollars, citing modestly stronger projected revenue growth that more than offsets minor adjustments to profit margin and discount rate assumptions.

What's in the News

• Completed a major share repurchase program, buying back a total of 31.75 million shares, or about 10.31 percent of shares outstanding, under the authorization announced on February 16, 2022 (company disclosure).
• During the most recent tranche from July 1, 2025 to September 30, 2025, the company repurchased 1.50 million shares for approximately 51.36 million dollars, representing about 0.48 percent of shares outstanding (company disclosure).

Valuation Changes

• The fair value estimate has risen slightly to approximately 42.14 dollars from about 42.10 dollars, reflecting a modest uplift in the intrinsic valuation.
• The discount rate is essentially unchanged, edging down fractionally from about 6.96 percent to roughly 6.96 percent, indicating a stable risk and cost of capital framework.
• Revenue growth has increased slightly from roughly 5.35 percent to about 5.44 percent, suggesting a marginally stronger top line outlook.
• The net profit margin has slipped slightly from about 11.61 percent to around 11.58 percent, implying a small downward adjustment to projected profitability.
• The future P/E has risen marginally to roughly 22.76 times from about 22.73 times, indicating a small increase in the valuation multiple applied to forward earnings.