Antero Resources
Develops Marcellus gas and liquids with integrated transportation and midstream access.
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Profile
Produces natural gas, ethane, heavier natural-gas liquids, and oil from a West Virginia-centered Marcellus portfolio. The model combines upstream development, an equity-method interest in Antero Midstream, and marketing built around firm transportation and domestic and international NGL channels.
Develops natural gas, ethane, heavier natural-gas liquids, and oil from a West Virginia-centered Marcellus position. Exploration and Production, an equity-method investment in Antero Midstream, and Marketing are the three reportable segments.
Pairs dry-gas and liquids-rich acreage with dedicated gathering, processing, water, and transportation infrastructure. Firm transportation moves Appalachian gas toward stronger downstream markets, while NGL volumes reach domestic and international channels.
Operates a portfolio concentrated in West Virginia after the HG Energy acquisition and Ohio Utica divestiture. Execution depends on commodity prices, midstream availability, firm-transport utilization, regulatory requirements, and integration of the enlarged asset base. Take-or-pay transportation commitments can create charges when capacity is unused.
Company facts
Key statistics
Year to date +12.4% · Average volume (30d) 4.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Reiterate | Overweight | $56 | $49 |
| Jul 31, 2026 | UBS | Reiterate | Buy | $50 | $52 |
| Jul 31, 2026 | Wells Fargo | Reiterate | Overweight | $49 | $57 |
| Jul 30, 2026 | Wolfe Research | Reiterate | Outperform | $46 | $48 |
| Jul 14, 2026 | UBS | Reiterate | Buy | $56 | $50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.84 | $0.76 | −9.0% | $1.53B | $1.56B | +2.3% | +0.46% |
| Apr 29, 2026Q1 FY26 | $1.17 | $1.15 | −1.7% | $1.67B | $1.95B | +16.8% | +0.64% |
| Feb 11, 2026Q4 FY25 | $0.50 | $0.42 | −16.5% | $1.31B | $1.41B | +7.9% | −3.87% |
| Oct 29, 2025Q3 FY25 | $0.22 | $0.15 | −31.8% | $1.41B | $1.17B | −16.8% | −5.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.39B | $1.20B | $1.13B | $1.28B | $1.86B | $1.34B | |
| Gross profit | $421.9M | $242.7M | $172.4M | $271.3M | $741.8M | $276.2M | |
| Operating income | $346.9M | $171.9M | $103.8M | $207.1M | $661.5M | $206.3M | |
| Net income | $208.0M | $156.6M | $76.2M | $193.7M | $535.2M | $278.7M | |
| Diluted EPS | $0.66 | $0.50 | $0.24 | $0.62 | $1.72 | $0.90 | |
| Gross margin | 30.3% | 20.2% | 15.2% | 21.1% | 39.8% | 20.7% | |
| Operating margin | 24.9% | 14.3% | 9.2% | 16.1% | 35.5% | 15.4% |
Fiscal years (4-quarter sums)FY21 $5.79B · FY22 $8.30B · FY23 $4.28B · FY24 $4.12B · FY25 $5.01B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $0 · Total debt $4.62B · Total assets $15.23B · Shareholders' equity $8.32B
Dividends
No dividends on record.
Ownership
Shares outstanding 307.44M · Float 296.29M · 96.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 27.52M | 8.95% | 13F | Aug 7, 2026 |
| FMR LLC | 16.72M | 5.44% | 13F | Aug 13, 2026 |
| Vanguard Capital Management | 15.59M | 5.03% | 13G | Jul 31, 2026 |
| Vanguard Portfolio Management LLC | 14.00M | 4.55% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 12.70M | 4.13% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 4, 2026 | Michael N. Kennedy | director, officer: See Remarks | −185,826 | $39.33 |
| May 4, 2026 | Yvette K. Schultz | officer: See Remarks | −39,490 | $39.27 |
| Mar 19, 2026 | Benjamin A. Hardesty | director | −12,000 | $44.00 |
| Mar 9, 2026 | Yvette K. Schultz | officer: See Remarks | −15,000 | $39.33 |
| Mar 10, 2026 | Sheri Pearce | officer: See Remarks | −19,667 | $38.13 |
Peers
- EQT
Appalachian gas rival with integrated gathering and transmission
- Expand Energy
Large-scale rival in Appalachian gas, liquids, and market access
- Range Resources
Direct Marcellus peer in natural gas, NGLs, and market access
- CNX Resources
Appalachian gas rival across Marcellus development and regional markets
- Gulfport Energy
Regional rival in Appalachian gas, NGLs, and drilling inventory
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Antero Resources | $38.50 | +0.13% | $11.82B | 11.0 | 9.0 | 2.1 | +29.6% |
| EQT | $54.67 | +0.19% | $34.13B | 12.0 | 16.3 | 3.7 | −29.2% |
| Expand Energy | $98.16 | 0.00% | $22.72B | 8.5 | 12.2 | 1.7 | −19.8% |
| Range Resources | $41.10 | −0.86% | $9.69B | 11.5 | 11.3 | 2.9 | +19.1% |
| CNX Resources | $36.42 | +0.64% | $5.36B | 6.0 | 10.8 | 2.2 | −35.7% |
| Gulfport Energy | $176.37 | +0.01% | $3.17B | 7.1 | 7.0 | 2.1 | +3.8% |
| Median | 8.5 | 11.3 | 2.2 | −19.8% |







