Antero Resources
Market Cap
US$527.5m
Last Updated
2020/02/21 01:33 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Fair value with moderate growth potential.
Similar Companies
Share Price & News
How has Antero Resources's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
11.5%
AR
0.09%
US Oil and Gas
0.06%
US Market
1 Year Return
-80.9%
AR
-17.6%
US Oil and Gas
19.3%
US Market
Return vs Industry: AR underperformed the US Oil and Gas industry which returned -17.6% over the past year.
Return vs Market: AR underperformed the US Market which returned 19.3% over the past year.
Shareholder returns
| AR | Industry | Market | |
|---|---|---|---|
| 7 Day | 11.5% | 0.09% | 0.06% |
| 30 Day | -10.2% | -6.5% | 1.7% |
| 90 Day | -15.2% | -6.3% | 9.0% |
| 1 Year | -80.9%-80.9% | -14.4%-17.6% | 21.8%19.3% |
| 3 Year | -92.3%-92.3% | -11.4%-19.8% | 49.5%39.9% |
| 5 Year | -95.3%-95.3% | -20.5%-32.2% | 73.1%54.1% |
Price Volatility Vs. Market
How volatile is Antero Resources's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
How Does Investing In Antero Resources Corporation (NYSE:AR) Impact The Volatility Of Your Portfolio?1 month ago | Simply Wall St
We're Not So Sure You Should Rely on Antero Resources's (NYSE:AR) Statutory Earnings2 months ago | Simply Wall St
Is Antero Resources (NYSE:AR) Using Debt In A Risky Way?Valuation
Is Antero Resources undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AR ($1.84) is trading below our estimate of fair value ($36.06)
Significantly Below Fair Value: AR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: AR is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.
PE vs Market: AR is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate AR's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: AR is good value based on its PB Ratio (0.1x) compared to the US Oil and Gas industry average (0.8x).
Next Steps
Future Growth
How is Antero Resources forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
86.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).
Earnings vs Market: AR is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: AR's is expected to become profitable in the next 3 years.
Revenue vs Market: AR's revenue (1.4% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: AR's revenue (1.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AR is forecast to be unprofitable in 3 years.
Next Steps
Past Performance
How has Antero Resources performed over the past 5 years?
-31.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AR is currently unprofitable.
Growing Profit Margin: AR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: AR is unprofitable, and losses have increased over the past 5 years at a rate of -31.7% per year.
Accelerating Growth: Unable to compare AR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: AR is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-13.3%).
Return on Equity
High ROE: AR has a negative Return on Equity (-4.21%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Antero Resources's financial position?
Financial Position Analysis
Short Term Liabilities: AR's short term assets ($922.9M) do not cover its short term liabilities ($1.0B).
Long Term Liabilities: AR's short term assets ($922.9M) do not cover its long term liabilities ($7.2B).
Debt to Equity History and Analysis
Debt Level: AR's debt to equity ratio (53.9%) is considered high.
Reducing Debt: AR's debt to equity ratio has reduced from 79.5% to 53.9% over the past 5 years.
Balance Sheet
Inventory Level: AR has a high level of physical assets or inventory.
Debt Coverage by Assets: AR's debt is not covered by short term assets (assets are 0.2x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: AR has been profitable on average in the past, therefore cash runway is not a concern.
Forecast Cash Runway: AR has been profitable on average in the past, therefore cash runway is not a concern.
Next Steps
Dividend
What is Antero Resources's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate AR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate AR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if AR's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if AR's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of AR's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.1yrs
Average management tenure
CEO
Paul Rady (65yo)
15.8yrs
Tenure
US$8,389,882
Compensation
Mr. Paul M. Rady has been Chairman and Chief Executive Officer of Antero Midstream Partners GP LLC, the General Partner of Antero Midstream Partners LP since April 11, 2017. Mr. Rady has been Chairman and ...
CEO Compensation Analysis
Compensation vs Market: Paul's total compensation ($USD8.39M) is above average for companies of similar size in the US market ($USD1.66M).
Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 15.8yrs | US$8.39m | 4.34% $22.9m | |
| Co-Founder | 15.8yrs | US$4.20m | 3.54% $18.7m | |
| Chief Administrative Officer | 6.4yrs | US$2.27m | 0.38% $2.0m | |
| Senior Vice President of Finance | 4.1yrs | US$2.17m | no data | |
| Senior Vice President of Operations | 2.7yrs | no data | no data | |
| VP of Accounting & Chief Accounting Officer | 6.3yrs | no data | 0.031% $161.3k | |
| Vice President of Legal & General Counsel | 3.1yrs | no data | no data | |
| Vice President of Human Resources & Administration | 3.1yrs | no data | no data | |
| Senior Vice President of Business Development | 4.1yrs | no data | no data | |
| Senior Vice President of Land | 4.1yrs | no data | no data |
4.1yrs
Average Tenure
60yo
Average Age
Experienced Management: AR's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 15.8yrs | US$8.39m | 4.34% $22.9m | |
| Co-Founder | 15.8yrs | US$4.20m | 3.54% $18.7m | |
| Independent Director | 16.1yrs | US$275.00k | 0.093% $491.7k | |
| Independent Director | 6.3yrs | US$337.50k | 0.097% $509.3k | |
| Independent Director | 1.2yrs | US$32.96k | 0.020% $106.1k | |
| Independent Director | 0.3yrs | no data | 0.0069% $36.3k | |
| Independent Director | 0.3yrs | no data | 0.0069% $36.3k | |
| Lead Director | 0.7yrs | US$322.50k | 0.035% $185.1k | |
| Independent Director | 2yrs | US$295.00k | 0.023% $123.3k |
2.0yrs
Average Tenure
64yo
Average Age
Experienced Board: AR's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Antero Resources Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Antero Resources Corporation
- Ticker: AR
- Exchange: NYSE
- Founded: 2002
- Industry: Oil and Gas Exploration and Production
- Sector: Energy
- Market Cap: US$527.486m
- Shares outstanding: 286.68m
- Website: https://www.anteroresources.com
Number of Employees
Location
- Antero Resources Corporation
- 1615 Wynkoop Street
- Denver
- Colorado
- 80202
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AR | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Oct 2013 |
| 7A6 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Oct 2013 |
Biography
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, 2019, the company had approximately 451,000 net acres in the southwestern core of the Marcellus Shale; and 91,000 net acres in the core of the Utica Shale. It also owned and operated 324 miles of gas gathering pipelines in the Marcellus Shale; 17 compressor stations in the Marcellus Shale; 110 miles of low-pressure and high-pressure gathering pipelines in the Utica Shale; 8 miles of high-pressure pipelines; and 2 compressor stations in the Utica Shale. The company had estimated proved reserves of 18.9 trillion cubic feet of natural gas equivalent, including 11.5 trillion cubic feet of natural gas; 652 million barrels of assumed recovered ethane; 540 million barrels of primarily propane, isobutane, normal butane, and natural gasoline; and 42 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/21 01:33 |
| End of Day Share Price | 2020/02/20 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.