Antero Resources price target lowered to $41 from $48 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on Antero Resources to $41 from $48 but keeps a Buy rating on the shares. The company’s production remains nearly 70% dry gas and 30% wet gas weighted with virtual no hedges as dry gas has fallen by over 50% and wet gas fell by 25% in the past few months, the analyst tells investors in a research note. The firm adds however that it is positive in Antero’s "efficient" operations, "pristine" balance sheet, and low reinvestment rate, which allows the company to buy back shares with the majority of its free cash flows.