Price action is often one of the most important indicators for investors to keep track of in the market, and price action only comes with the right amount of volume underneath. Knowing this, investors would benefit from looking into the recent price action and volume in the energy sector, particularly names operating in the oil industry.
Antero Resources Corporation's Q3 2024 production was in-line with expectations. It has highlighted strong export prices for its butane and propane, which is now allowing it to realize a couple of dollars above Mont Belvieu for its C3+ NGLs. Antero has also made strides with drilling and completion efficiencies.
The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
Antero Resources Corporation (NYSE:AR ) Q3 2024 Results Conference Call October 31, 2024 11:00 AM ET Company Participants Brendan Krueger - Vice President, Finance Paul Rady - President, Chairman and Chief Executive Officer Dave Cannelongo - Senior Vice President, Liquids Marketing and Transportation Justin Fowler - Senior Vice President, Natural Gas Marketing Michael Kennedy - Chief Financial Officer Conference Call Participants Bert Donnes - Truth Securities Arun Jayaram - JPMorgan Leo Mariani - ROTH Capital Ati Modak - Goldman Sachs Josh Silverstein - UBS Kevin MacCurdy - Pickering Energy Partners David Deckelbaum - Cowen Operator Greetings. Welcome to Antero Resources Third Quarter 2024 Earnings Call.
Antero Resources (AR) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to earnings of $0.08 per share a year ago.
Antero Resources (AR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
AR, BW and GTLS have been added to the Zacks Rank #5 (Strong Sell) List on October 2, 2024.
Investors would be wise to focus on resilient stocks such as AR and CTRA. Meanwhile, it may be prudent to avoid more speculative options like CRK.
In a year where natural gas prices have spent almost the entire year under $3.00 per mcf, including a few months under $2.00, the stock prices of publicly traded Appalachian gas producers have remained remarkably stable. In fact, Antero Resources' price is up this year and Range Resources is basically flat for the year so far.
Antero is projected to generate $30 million in 2H 2024 free cash flow, although this will still leave it slightly negative for the full year. This is due to weak natural gas prices, partially offset by improved realizations for C3+ NGLs. Antero is expected to generate over $500 million in 2025 free cash flow at current strip, which would allow it to pay off its credit facility debt.
Based on several factors impacting the natural gas market, we recommend investors hold on to stocks like RRC and AR.
Antero Resources (AR) reported earnings 30 days ago. What's next for the stock?