Mizuho analyst Nitin Kumar lowered the firm’s price target on Antero Resources to $38 from $51 and keeps a Buy rating on the shares. The analyst reduced net asset values by 5% for the firm’s U.S. oil and gas coverage. This largely reflects lower capital efficiencies for 2023 that are then carried forward over the longer term, the analyst tells investors in a research note. The firm’s top picks in the sector remain Diamondback Energy (FANG), Exxon Mobil (XOM) and Coterra Energy (CTRA). It also removed Pioneer Natural Resources (PXD) from "strong buy" and added PDC Energy (PDCE) to the list, alongside ConocoPhillips (COP), Valero Energy (VLO), Devon Energy (DVN) and Chesapeake Energy (CHK).
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Published first on TheFly
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Read More on AR:
- Unusually active option classes on open February 22nd
- Antero Resources price target lowered to $34 from $41 at Truist
- Antero Resources sees 2023 net production to average 3.25 to 3.3 Bcfe/d
- Antero Resources reports Q4 EPS $2.31 vs. $2.65 a year ago
- Antero Resources Announces Fourth Quarter 2022 Results, Year End Reserves and 2023 Capital Budget and Guidance
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