Antero Resources CorporationNYSE
Antero Resources: King Of Appalachian E&P Is Undervalued
Small Cap Capital • 15 Comments
Small Cap Capital • 15 Comments
Antero Resources: The Thesis Is Playing Out
Richard Zeits • 14 Comments
Richard Zeits • 14 Comments
Mon, Nov. 21, 2:47 PM
- Antero Resources (AR +1.7%) and Rice Energy (RICE +5.2%) are both upgraded to Buy from Hold at Deutsche Bank, which sees the companies as having the potential to generate “consistent growth across two high quality asset bases with good entry points for investors."
- Deutsche Bank believes AR is one of the best positioned producers, given its growth, hedge book and asset base, and says the company largely insulated in 2017 with gas hedges in place.
- The firm likes Rice's integrated business model and management’s disciplined approach to consolidation.
Thu, Nov. 17, 7:21 PM
- TransCanada’s (NYSE:TRP) decision this week to end plans for lower tolls on its gas pipeline to eastern Canada means less supply will head there from the country’s western reservoirs, opening the door for U.S. explorers to edge out Canadian competitors and ship more gas north of the border, Bloomberg reports.
- Drillers in the Marcellus Shale are now poised to expand their reach in Canada’s population centers, and Evercore ISI analysts say Antero Resources (NYSE:AR), Rice Energy (NYSE:RICE) and Gulfport Energy (NASDAQ:GPOR) stand to benefit the most from TRP's move.
- TRP said its decision was forced by a lack of interest from western Canadian producers, but it raises the odds that the proposed Nexus pipeline, developed by Spectra Energy (NYSE:SE) and DTE Energy (NYSE:DTE), or the Rover project led by Energy Transfer Partners (NYSE:ETP), will allow Marcellus gas to displace Canadian supplies, GMP FirstEnergy's Martin King says.
- While some western Canadian producers are banking on a better pipeline deal from TRP, that offer may never come, says one natural gas consultant.
Wed, Oct. 26, 4:20 PM
Tue, Oct. 25, 5:35 PM
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Tue, Jul. 26, 8:43 AM
- Thinly traded micro cap Tokai Pharmaceuticals (NASDAQ:TKAI) craters 70% premarket on higher-than-normal volume in response to its announcement that it will stop its Phase 3 clinical trial, ARMOR3-SV, assessing lead product candidate galeterone compared to enzalutamide (XTANDI) in treatment-naive men with metastatic castration-resistant prostate cancer (mCRPC) whose tumors express the androgen receptor splice variant AR-V7. The company made its decision based on the recommendation from the independent Data Monitoring Committee that the trial was unlikely to meet its primary efficacy endpoint.
- Tokai intends to evaluate its ongoing ARMOR2 expansion in mCRPC patients with acquired resistance to enzalutamide and its planned study in patients who rapidly progress on either enzalutamide or abiraterone acetate (ZYTIGA).
- Galeterone is an orally available small molecule that disrupts the androgen receptor (NYSE:AR) signaling pathway by degrading AR, blocking the binding of testosterone or dihydrotestosterone with AR and inhibiting CYP17, an enzyme that plays a key role in the synthesis of testosterone. Prostate cancer is stoked by androgens acting through the androgen receptor.
- Related tickers: (NASDAQ:MDVN)(OTCPK:ALPMF)(OTCPK:ALPMY)(NYSE:JNJ)
Mon, Jul. 18, 3:42 PM
- Antero Resources (AR +1.6%) is upgraded to Hold from Underperform with a $27 price target, raised from $24, at Jefferies, citing AR's recent $450M purchase of Marcellus Shale acreage in West Virginia.
- Jefferies says AR's Firm Transportation portfolio could cause concern as it calls for future reinvestment, but the firm says it has become more comfortable with the expense because it is likely to add resource inventory.
- The firm also cites valuation, as AR has underperformed gas-leveraged peers by ~41% YTD.
Thu, Jun. 9, 4:48 PM
- Antero Resources (NYSE:AR) -2.5% AH after agreeing to acquire 55K net acres and 14M cfe/day of net production in West Virginia's Marcellus Shale from Southwestern Energy (NYSE:SWN) for $450M.
- AR says substantially all the acreage will be dedicated to Antero Midstream Partners (NYSE:AM) for gas gathering, compression, processing and water services.
- To fund the deal, AR announces a public offering of 26.75M common shares, with an underwriters option to purchase up to an additional ~4M shares.
- SWN says it plans to use the cash from the deal to reduce the principal balance of its $750M term loan due in November 2018.
Wed, Apr. 27, 4:22 PM
- Antero Resources (NYSE:AR): Q1 EPS of $0.17 misses by $0.01.
- Revenue of $765.4M (+16.9% Y/Y) beats by $113.6M.
Tue, Apr. 26, 5:35 PM
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Fri, Apr. 15, 12:29 PM
- J.P. Morgan analysts revises ratings on several large-cap E&P companies following the six-week 71% rally of E&P equities in its coverage
- The firm upgrades Anadarko Petroleum (APC +0.3%) to Overweight from Neutral based on an attractive relative valuation, a resilient production profile and improved balance sheet, and upgrades Antero Resources (AR +0.9%) to Neutral from Underweight on strong PDP reserve growth and expectations of continued strong operating momentum through 2017.
- Meanwhile, JPM downgrades Southwestern Energy (SWN -0.4%) to Underweight from Neutral and EP Energy (EPE +0.4%) to Neutral from Overweight on valuation metrics.
- The firm also thinks further successful delineation of the emerging STACK play in Oklahoma could support a relative re-rating in Continental Resources (CLR -0.1%) and Devon Energy (DVN -0.3%) shares, as drilling returns in the oil window are among the highest in U.S.
- JPM's top natural gas pick remains EQT Corp. (EQT -0.4%) given differentiated growth, a strong balance sheet, noteworthy catalysts and attractive valuation.
- Now read Why Anadarko Petroleum is the best bet in a challenging oil market
Thu, Mar. 24, 10:07 AM
- Antero Midstream Partners (AM -12.8%) plunges at the open after Antero Resources (AR -1.8%) prices the sale of 8M of its units held in AM at $22.40/unit, for $179M in gross proceeds.
- After the sale - and assuming no exercise of the underwriter's option to purchase 1.2M additional common units - AR will own ~62% of AM's outstanding common and subordinated units.
- AM will receive no proceeds from the offering.
Wed, Mar. 23, 4:57 PM
- Antero Resources (NYSE:AR) announces a public offering of 8M common units representing interests in Antero Midstream Partners (NYSE:AM), with an underwriters option to purchase up to an additional 1.2M units.
- AR says it plans to use the proceeds to repay borrowings under its credit facility and to fund part of its 2016 development program; AM will receive no proceeds from the offering.
Wed, Feb. 24, 4:27 PM
- Antero Resources (NYSE:AR): Q4 EPS of $0.20 beats by $0.05.
- Revenue of $630M (+7.7% Y/Y) beats by $26.5M.
Tue, Feb. 23, 5:35 PM
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