Antero Resources (AR) Up 17% Since Last Earnings Report: Can It Continue?

A month has gone by since the last earnings report for Antero Resources (AR). Shares have added about 17% in that time frame, outperforming the S&P 500.But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Antero Resources due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Antero Resources Corporation before we dive into how investors and analysts have reacted as of late.Antero Resources Q3 Earnings Miss Estimates, Revenues Increase Y/YAntero Resources, the leading natural gas producer, reported third-quarter 2025 adjusted earnings of 15 cents per share, which missed the Zacks Consensus Estimate of 22 cents. The bottom line, however, improved from the year-ago quarter’s adjusted loss of 12 cents.Total quarterly revenues of $1,213.99 million beat the Zacks Consensus Estimate of $1,183.64 million. The top line also increased from the year-ago figure of $1,055.9 million.The weaker-than-expected quarterly earnings can be primarily attributed to a decline in oil production and higher operating expenses. However, higher gas-equivalent price realization and increased natural gas production partially offset the negatives.Overall ProductionTotal production in the third quarter was 315 billion cubic feet equivalent (Bcfe), an increase from 313 Bcfe recorded a year ago. The figure beat our estimate of 314 Bcfe.Natural gas production (accounting for 64% of the total production) was 202 Bcf, up 1% from 200 Bcf recorded a year ago. Our estimate for the same was pinned at 203 Bcf.Oil production in the quarter amounted to 619 thousand barrels (MBbls), down 28% from 856 MBbls registered in the year-ago period. Our estimate for the same was pegged at 847 MBbls.Antero Resources reported production of 7,808 MBbls of C2 Ethane, an increase of 7% from the year-ago quarter’s recorded figure of 7,302 MBbls. Also, the company’s production of 10,495 MBbls of C3+ NGLs was 3% lower than the 10,793 MBbls reported a year ago.Realized Prices (Excluding Derivative Settlements)Weighted natural-gas-equivalent price realization in the quarter was $3.59 per thousand cubic feet equivalent (Mcfe), higher than the year-ago figure of $3.14.Realized prices for natural gas increased 46% to $3.12 per Mcf from $2.13 recorded a year ago.The company’s oil price realization in the quarter was $50.65 per barrel (Bbl), lower than $61.59 a year ago.The realized price for C3+ NGLs declined to $36.60 per Bbl from $41.30 reported a year ago. However, the realized price for C2 Ethane increased to $11.05 per Bbl from $8.01.Operating ExpensesTotal operating expenses increased to $1,095.9 million from $1,080.9 million in the year-ago period.Average lease operating costs were 10 cents per Mcfe, up 11% from 9 cents recorded in the year-ago quarter. The gathering and compression costs were 73 cents per Mcfe, 1% higher than the prior-year recorded number.Transportation expenses rose 3% year over year to 60 cents per Mcfe, while processing costs increased 5% to 92 cents per Mcfe.Capex & FinancialsIn the third quarter, Antero Resources spent $172 million on drilling and completion operations. As of Sept. 30, 2025, the company had a long-term debt of $1.3 billion.OutlookAntero Resources’ production guidance for 2025 is in the band of 3.4-3.45 Bcfe/d. The company projects its full-year drilling and completion capital budget at $650 million to $675 million.How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates revision.The consensus estimate has shifted 9.87% due to these changes.VGM ScoresCurrently, Antero Resources has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for value investors.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Antero Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerAntero Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Range Resources (RRC), a stock from the same industry, has gained 11.2%. The company reported its results for the quarter ended September 2025 more than a month ago.Range Resources reported revenues of $717.62 million in the last reported quarter, representing a year-over-year change of +5.5%. EPS of $0.57 for the same period compares with $0.48 a year ago.For the current quarter, Range Resources is expected to post earnings of $0.67 per share, indicating a change of -1.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -8.2% over the last 30 days.Range Resources has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. 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Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Antero Resources Corporation (AR): Free Stock Analysis Report Range Resources Corporation (RRC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks