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Antero Resources (AR) Up 19.3% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for Antero Resources (AR - Free Report) . Shares have added about 19.3% 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 the most recent earnings report in order to get a better handle on the recent catalysts 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/Y
Antero Resources, a leading natural gas producer, reported fourth-quarter 2025 adjusted earnings of 42 cents per share, which missed the Zacks Consensus Estimate of 52 cents. The bottom line also declined from the year-ago quarter’s level of 58 cents.
Total quarterly revenues of $1,412 million beat the Zacks Consensus Estimate of $1,309 million. The top line increased from the year-ago figure of $1,169 million.
The weak quarterly earnings can be attributed to a decline in oil production and higher operating expenses. Higher natural gas production partially offset the negatives.
Overall Production
Total production in the fourth quarter was 323 billion cubic feet equivalent (Bcfe), an increase from 316 Bcfe recorded a year ago. The figure beat our estimate of 319 Bcfe.
Natural gas production (accounting for 64% of the total production) was 208 Bcf, up 6% from 196 Bcf recorded a year ago. Our estimate for the same was pinned at 210 Bcf.
Oil production in the fourth quarter amounted to 756 thousand barrels (MBbls), down 11% from 850 MBbls registered in the year-ago period. Our estimate for the same was pegged at 841 MBbls.
Antero Resources reported production of 7,668 MBbls of C2 Ethane, marking a decrease of 10% from the year-ago quarter’s recorded figure of 8,518 MBbls. Production of 10,678 MBbls of C3+ NGLs was 1% higher than 10,563 MBbls registered a year ago.
Weighted natural-gas-equivalent price realization in the quarter was $3.97 per thousand cubic feet equivalent (Mcfe), higher than the year-ago figure of $3.64.
Realized prices for natural gas increased 34% to $3.71 per Mcf from $2.77 recorded a year ago.
The company’s oil price realization in the quarter was $45.99 per barrel (Bbl), lower than $57.80 a year ago.
The realized price for C3+ NGLs declined to $35.41 per Bbl from $44.29 reported a year ago. However, the realized price for C2 Ethane increased to $12.54 per Bbl from $10.31.
Operating Expenses
Total operating expenses increased to $1,122 million from $1,111 million in the year-ago period.
Average lease operating costs were 10 cents per Mcfe, flat year over year. The gathering and compression costs were 75 cents per Mcfe, 6% higher than the prior-year recorded number.
Transportation expenses rose 12% year over year to 67 cents per Mcfe, while processing costs increased 6% to 90 cents per Mcfe.
Capex & Financials
In the fourth quarter, Antero Resources spent $159 million on drilling and completion operations. As of Dec. 31, 2025, the company had a long-term debt of $1.4 billion.
Outlook
Antero Resources expects production in the first quarter of 2026 to average 3.8 Bcfe/d. For 2026, net production is expected to come in at 4.1 Bcfe/d. The company expects modest production increases from the second quarter, owing to HG Energy’s contributions. AR’s drilling and completion capital for 2026 is expected to be $1 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a flat trend in estimates review.
The consensus estimate has shifted 19.89% due to these changes.
VGM Scores
Currently, Antero Resources has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
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 Player
Antero Resources belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Murphy Oil (MUR - Free Report) , has gained 5.5% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Murphy Oil reported revenues of $624.56 million in the last reported quarter, representing a year-over-year change of -6.9%. EPS of $0.14 for the same period compares with $0.35 a year ago.
Murphy Oil is expected to post a loss of $0.07 per share for the current quarter, representing a year-over-year change of -112.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -190.4%.
Murphy Oil has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
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Antero Resources (AR) Up 19.3% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Antero Resources (AR - Free Report) . Shares have added about 19.3% 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 the most recent earnings report in order to get a better handle on the recent catalysts 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/Y
Antero Resources, a leading natural gas producer, reported fourth-quarter 2025 adjusted earnings of 42 cents per share, which missed the Zacks Consensus Estimate of 52 cents. The bottom line also declined from the year-ago quarter’s level of 58 cents.
Total quarterly revenues of $1,412 million beat the Zacks Consensus Estimate of $1,309 million. The top line increased from the year-ago figure of $1,169 million.
The weak quarterly earnings can be attributed to a decline in oil production and higher operating expenses. Higher natural gas production partially offset the negatives.
Overall Production
Total production in the fourth quarter was 323 billion cubic feet equivalent (Bcfe), an increase from 316 Bcfe recorded a year ago. The figure beat our estimate of 319 Bcfe.
Natural gas production (accounting for 64% of the total production) was 208 Bcf, up 6% from 196 Bcf recorded a year ago. Our estimate for the same was pinned at 210 Bcf.
Oil production in the fourth quarter amounted to 756 thousand barrels (MBbls), down 11% from 850 MBbls registered in the year-ago period. Our estimate for the same was pegged at 841 MBbls.
Antero Resources reported production of 7,668 MBbls of C2 Ethane, marking a decrease of 10% from the year-ago quarter’s recorded figure of 8,518 MBbls. Production of 10,678 MBbls of C3+ NGLs was 1% higher than 10,563 MBbls registered a year ago.
Realized Prices (Excluding Derivative Settlements)
Weighted natural-gas-equivalent price realization in the quarter was $3.97 per thousand cubic feet equivalent (Mcfe), higher than the year-ago figure of $3.64.
Realized prices for natural gas increased 34% to $3.71 per Mcf from $2.77 recorded a year ago.
The company’s oil price realization in the quarter was $45.99 per barrel (Bbl), lower than $57.80 a year ago.
The realized price for C3+ NGLs declined to $35.41 per Bbl from $44.29 reported a year ago. However, the realized price for C2 Ethane increased to $12.54 per Bbl from $10.31.
Operating Expenses
Total operating expenses increased to $1,122 million from $1,111 million in the year-ago period.
Average lease operating costs were 10 cents per Mcfe, flat year over year. The gathering and compression costs were 75 cents per Mcfe, 6% higher than the prior-year recorded number.
Transportation expenses rose 12% year over year to 67 cents per Mcfe, while processing costs increased 6% to 90 cents per Mcfe.
Capex & Financials
In the fourth quarter, Antero Resources spent $159 million on drilling and completion operations. As of Dec. 31, 2025, the company had a long-term debt of $1.4 billion.
Outlook
Antero Resources expects production in the first quarter of 2026 to average 3.8 Bcfe/d. For 2026, net production is expected to come in at 4.1 Bcfe/d. The company expects modest production increases from the second quarter, owing to HG Energy’s contributions. AR’s drilling and completion capital for 2026 is expected to be $1 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a flat trend in estimates review.
The consensus estimate has shifted 19.89% due to these changes.
VGM Scores
Currently, Antero Resources has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
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 Player
Antero Resources belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Murphy Oil (MUR - Free Report) , has gained 5.5% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Murphy Oil reported revenues of $624.56 million in the last reported quarter, representing a year-over-year change of -6.9%. EPS of $0.14 for the same period compares with $0.35 a year ago.
Murphy Oil is expected to post a loss of $0.07 per share for the current quarter, representing a year-over-year change of -112.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -190.4%.
Murphy Oil has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.