Antero Resources (AR)
Market Price (2/5/2026): $33.98 | Market Cap: $10.5 BilSector: Energy | Industry: Oil & Gas Exploration & Production
Antero Resources (AR)
Market Price (2/5/2026): $33.98Market Cap: $10.5 BilSector: EnergyIndustry: Oil & Gas Exploration & Production
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 11% | Weak multi-year price returns3Y Excs Rtn is -49% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% | Key risksAR key risks include [1] earnings volatility from its unhedged production profile and [2] discounted gas prices resulting from pipeline constraints. | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% | ||
| Low stock price volatilityVol 12M is 44% | ||
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 11% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% |
| Low stock price volatilityVol 12M is 44% |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. |
| Weak multi-year price returns3Y Excs Rtn is -49% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Key risksAR key risks include [1] earnings volatility from its unhedged production profile and [2] discounted gas prices resulting from pipeline constraints. |
Qualitative Assessment
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Antero Resources (AR) stock has gained about 10% since 10/31/2025 because of the following key factors:
1. Strategic Acquisitions and Divestitures Enhancing Future Production and Free Cash Flow.
Antero Resources announced significant strategic transactions in December 2025, including the acquisition of HG Energy II's upstream assets in the West Virginia Marcellus Shale for $2.8 billion, coupled with the divestiture of its Ohio Utica Shale upstream assets for $800 million. These moves are projected to result in an additional 700 MMCFE per day in 2026 production and an approximate increase of $495 million in 2026 free cash flow. The acquisitions were also expected to boost Q4 2025 production by 2% to 3% compared to Q3 2025, targeting an average of 3.5 to 3.525 Bcfe per day.
2. Positive Analyst Sentiment and Price Target Upgrades.
Several financial analysts upgraded their ratings and increased their price targets for Antero Resources during late 2025 and early 2026, signaling growing confidence in the company's outlook. For instance, in December 2025, Wells Fargo & Company raised its price target from $39.00 to $49.00, maintaining an "overweight" rating, while UBS Group increased its target from $40.00 to $46.00 with a "buy" rating. Barclays also boosted its price objective from $40.00 to $46.00 with an "equal weight" rating.
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1. Strategic Acquisitions and Divestitures Enhancing Future Production and Free Cash Flow.
Antero Resources announced significant strategic transactions in December 2025, including the acquisition of HG Energy II's upstream assets in the West Virginia Marcellus Shale for $2.8 billion, coupled with the divestiture of its Ohio Utica Shale upstream assets for $800 million. These moves are projected to result in an additional 700 MMCFE per day in 2026 production and an approximate increase of $495 million in 2026 free cash flow. The acquisitions were also expected to boost Q4 2025 production by 2% to 3% compared to Q3 2025, targeting an average of 3.5 to 3.525 Bcfe per day.
2. Positive Analyst Sentiment and Price Target Upgrades.
Several financial analysts upgraded their ratings and increased their price targets for Antero Resources during late 2025 and early 2026, signaling growing confidence in the company's outlook. For instance, in December 2025, Wells Fargo & Company raised its price target from $39.00 to $49.00, maintaining an "overweight" rating, while UBS Group increased its target from $40.00 to $46.00 with a "buy" rating. Barclays also boosted its price objective from $40.00 to $46.00 with an "equal weight" rating.
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Stock Movement Drivers
Fundamental Drivers
The 9.9% change in AR stock from 10/31/2025 to 2/5/2026 was primarily driven by a 9.9% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.91 | 33.98 | 9.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,880 | 4,880 | 0.0% |
| Net Income Margin (%) | 12.1% | 12.1% | 0.0% |
| P/E Multiple | 16.2 | 17.8 | 9.9% |
| Shares Outstanding (Mil) | 309 | 309 | 0.0% |
| Cumulative Contribution | 9.9% |
Market Drivers
10/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| AR | 9.5% | |
| Market (SPY) | -0.7% | 10.8% |
| Sector (XLE) | 18.5% | 38.4% |
Fundamental Drivers
The -2.7% change in AR stock from 7/31/2025 to 2/5/2026 was primarily driven by a -21.5% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.93 | 33.98 | -2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,730 | 4,880 | 3.2% |
| Net Income Margin (%) | 10.1% | 12.1% | 19.5% |
| P/E Multiple | 22.6 | 17.8 | -21.5% |
| Shares Outstanding (Mil) | 310 | 309 | 0.5% |
| Cumulative Contribution | -2.7% |
Market Drivers
7/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| AR | -3.1% | |
| Market (SPY) | 7.5% | 23.6% |
| Sector (XLE) | 20.8% | 46.7% |
Fundamental Drivers
The -8.9% change in AR stock from 1/31/2025 to 2/5/2026 was primarily driven by a -24.5% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.32 | 33.98 | -8.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,077 | 4,880 | 19.7% |
| P/S Multiple | 2.8 | 2.2 | -24.5% |
| Shares Outstanding (Mil) | 311 | 309 | 0.7% |
| Cumulative Contribution | -8.9% |
Market Drivers
1/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| AR | -9.3% | |
| Market (SPY) | 13.6% | 45.9% |
| Sector (XLE) | 22.1% | 61.5% |
Fundamental Drivers
The 17.8% change in AR stock from 1/31/2023 to 2/5/2026 was primarily driven by a 317.7% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.84 | 33.98 | 17.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,401 | 4,880 | -41.9% |
| Net Income Margin (%) | 24.6% | 12.1% | -50.9% |
| P/E Multiple | 4.3 | 17.8 | 317.7% |
| Shares Outstanding (Mil) | 305 | 309 | -1.1% |
| Cumulative Contribution | 17.8% |
Market Drivers
1/31/2023 to 2/5/2026| Return | Correlation | |
|---|---|---|
| AR | 17.4% | |
| Market (SPY) | 72.9% | 38.3% |
| Sector (XLE) | 27.4% | 58.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AR Return | 221% | 77% | -27% | 55% | -2% | -1% | 528% |
| Peers Return | 10454% | 33% | 30% | 33% | 7% | 5% | 27283% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| AR Win Rate | 67% | 67% | 33% | 58% | 50% | 50% | |
| Peers Win Rate | 53% | 63% | 57% | 53% | 53% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AR Max Drawdown | 0% | -3% | -35% | -7% | -15% | -9% | |
| Peers Max Drawdown | -2% | -5% | -12% | -10% | -12% | -8% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EQT, RRC, CTRA, CNX, GPOR. See AR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/5/2026 (YTD)
How Low Can It Go
| Event | AR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -58.4% | -25.4% |
| % Gain to Breakeven | 140.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -76.5% | -33.9% |
| % Gain to Breakeven | 325.9% | 51.3% |
| Time to Breakeven | 29 days | 148 days |
| 2018 Correction | ||
| % Loss | -92.6% | -19.8% |
| % Gain to Breakeven | 1248.5% | 24.7% |
| Time to Breakeven | 838 days | 120 days |
Compare to EQT, RRC, CTRA, CNX, GPOR
In The Past
Antero Resources's stock fell -58.4% during the 2022 Inflation Shock from a high on 6/7/2022. A -58.4% loss requires a 140.3% gain to breakeven.
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About Antero Resources (AR)
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2021, it had approximately 502,000 net acres in the Appalachian Basin; and 174,000 net acres in the Upper Devonian Shale. The company also owned and operated 494 miles of gas gathering pipelines in the Appalachian Basin; and 21 compressor stations. It had estimated proved reserves of 17.7 trillion cubic feet of natural gas equivalent, including 10.2 trillion cubic feet of natural gas; 718 million barrels of assumed recovered ethane; 501 million barrels of primarily propane, isobutane, normal butane, and natural gasoline; and 36 million barrels of oil. The company was formerly known as Antero Resources Appalachian Corporation and changed its name to Antero Resources Corporation in June 2013. Antero Resources Corporation was founded in 2002 and is headquartered in Denver, Colorado.
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The ExxonMobil of Appalachian natural gas and NGLs.
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- Natural Gas: A clean-burning fossil fuel extracted from underground reservoirs, primarily used for power generation, heating, and industrial processes.
- Natural Gas Liquids (NGLs): Hydrocarbons separated from natural gas, such as ethane, propane, and butane, used as feedstocks for petrochemicals, heating, and fuel.
- Crude Oil: A naturally occurring petroleum product refined into various fuels and petrochemical products.
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Antero Resources (AR) primarily sells its natural gas, natural gas liquids (NGLs), crude oil, and condensate to other companies (Business-to-Business, B2B) rather than directly to individuals.
Based on Antero Resources' 2023 annual report (10-K), the major customer explicitly named due to accounting for a material portion of their sales is:
- Shell Energy North America (US), L.P. (a subsidiary of Shell plc; Symbol: SHEL)
Antero Resources also states that it sells its products to a diverse group of other purchasers, which fall into the following categories of companies:
- Marketers: These companies buy natural gas, NGLs, and crude oil to resell them to end-users or other market participants.
- Utilities: These are primarily natural gas utilities that purchase natural gas to distribute to residential, commercial, and industrial customers.
- Industrial Users: Large industrial facilities that use natural gas as a fuel or feedstock for their operations.
- Refiners: Companies that purchase crude oil and condensate to process into various petroleum products like gasoline, diesel, and jet fuel.
While specific individual companies within these broader categories are not typically named in Antero Resources' public filings for significant revenue concentration (other than Shell Energy North America), these categories represent the primary types of businesses that are major customers for Antero Resources' products.
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Antero Midstream (AM)
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Michael N. Kennedy
Chief Executive Officer and President
Mr. Kennedy was appointed Chief Executive Officer and President of Antero Resources in August 2025. He joined Antero in 2013 and previously served as Chief Financial Officer of Antero Resources from 2021 to 2025, and as CFO of Antero Midstream from 2016 to 2021. Prior to joining Antero, Mr. Kennedy spent over a decade at Forest Oil Corp., including four years as Executive Vice President and Chief Financial Officer from 2009 to 2013. He began his career as an auditor with Arthur Andersen from 1996 to 2001, focusing on the Natural Resources industry.
Brendan E. Krueger
Chief Financial Officer
Mr. Krueger was promoted to Chief Financial Officer of Antero Resources in August 2025. He previously served as Chief Financial Officer of Antero Midstream from 2021 to 2025 and as Vice President - Finance at Antero Resources from 2018 to 2025. Mr. Krueger joined Antero in 2014 and prior to that, spent seven years as an investment banker from 2007 to 2014, focusing on equity and debt financing and M&A advisory with firms such as Robert W. Baird & Co. and Wells Fargo Securities.
Paul M. Rady
Chairman Emeritus and Co-Founder
Mr. Rady co-founded Antero Resources in 2002 and served as its Chief Executive Officer and Chairman from May 2004 until August 2025, when he transitioned to Chairman Emeritus. He also co-founded Antero's predecessor company in 2002 and oversaw its sale to XTO Energy, Inc. in 2005. Before Antero, Mr. Rady served as President, CEO, and Chairman of Pennaco Energy from 1998 until its sale to Marathon Oil in 2001. His career began as a geologist with Amoco Corporation. Antero Resources was backed by private equity firm Warburg Pincus, which invested over $1.5 billion in the company.
Yvette K. Schultz
Chief Compliance Officer, General Counsel, Secretary, Senior Vice President - Legal
Ms. Schultz has served as Chief Compliance Officer, General Counsel, Secretary, and Senior Vice President - Legal for Antero Resources since 2022.
W. Patrick Ash
Senior Vice President, Reserves, Planning & Midstream
Mr. Ash serves as the Senior Vice President, Reserves, Planning & Midstream at Antero Resources.
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The key risks for Antero Resources (AR) primarily revolve around the inherent volatility of the energy sector and the significant capital requirements of its operations, alongside an evolving regulatory landscape.
- Commodity Price Volatility: Antero Resources' financial performance is highly dependent on the prices of natural gas and natural gas liquids (NGLs). Fluctuations in these commodity prices directly impact the company's revenues, profitability, and cash flows. The company has experienced earnings volatility due to lower natural gas prices, particularly with its unhedged production profile, and pipeline constraints that cause gas realizations to trade at discounts to benchmark prices.
- Capital Requirements and Access to Capital: The oil and gas industry is capital-intensive, requiring substantial expenditures for exploration, development, production, and acquisitions. Antero Resources makes significant capital investments, and its ability to secure necessary capital or financing on favorable terms is crucial for maintaining and growing its oil and gas reserves. Failure to obtain adequate funding could lead to a decline in reserves and impact development plans.
- Regulatory and Environmental Risks: Antero Resources faces various risks associated with environmental regulations and other changes in law. These include compliance costs, potential liabilities, and operational restrictions imposed by regulatory bodies. The company's operations can be affected by changes in environmental laws, reporting requirements, and the costs associated with achieving greenhouse gas reduction targets, which can increase the cost of doing business and limit opportunities.
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Antero Resources (symbol: AR) primarily operates in the production of natural gas and natural gas liquids (NGLs) within the Appalachian Basin of the United States.
Addressable Market Sizes:
- Natural Gas: The U.S. natural gas market was valued at approximately USD 454.5 billion in 2024. This market is projected to grow to about USD 577.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.2% from 2025 to 2032.
- Natural Gas Liquids (NGLs): The North American Natural Gas Liquids (NGL) market is estimated to be USD 7.08 billion in 2024. It is forecast to increase to USD 11.53 billion by 2033, with a CAGR of 5.57%.
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Antero Resources (AR) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:
- Surging Natural Gas Demand: A significant driver for Antero Resources is the increasing demand for natural gas, primarily fueled by rising U.S. LNG exports and the growing need for natural gas-fired power generation, particularly from new data centers. The company is strategically positioned to capitalize on this demand through its firm transportation capacity and extensive Marcellus dry gas drilling inventory.
- Premium Natural Gas Liquids (NGL) Pricing: Antero Resources anticipates strong NGL pricing, projecting a premium to Mont Belvieu for its realized C3+ NGL prices. This outlook is supported by strategic firm sales agreements for its LPG volumes.
- Increased Production and Optimized Realized Pricing: The company has increased its production guidance and is focused on capturing premium natural gas prices. This is achieved through its firm transportation capacity, which allows it to sell natural gas at premiums to NYMEX, and its efficient lean gas development.
- Expansion of Core Marcellus Position: Antero is actively expanding its core Marcellus position in West Virginia. This strategic growth, achieved through bolt-on transactions and organic leasing, enables the company to respond quickly to regional demand increases and benefit from any tightening of the local natural gas basis.
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Share Repurchases
- Antero Resources completed the repurchase of approximately 31.7 million shares, representing 10.31% of outstanding shares, for $1,083.99 million as of September 30, 2025.
- During the third quarter of 2025, Antero purchased 1.5 million shares for an aggregate of $51 million, contributing to a year-to-date total of approximately 4.7 million shares purchased for $163 million.
- As of September 30, 2025, Antero had approximately $915 million of capacity remaining on its previously approved share repurchase program.
Share Issuance
- As of December 31, 2024, and September 30, 2025, common stock shares issued and outstanding were 311,165 and 308,385, respectively.
- Minor issuances of common stock occurred upon the vesting of equity-based compensation awards, net of shares withheld for income taxes.
Inbound Investments
- In February 2021, Antero Resources formed a drilling partnership with QL Capital Partners worth $500-$550 million, intended to fund 60 incremental wells from 2021 through 2024.
Outbound Investments
- Antero Resources completed three separate acquisitions in its West Virginia development footprint for approximately $260 million in 2025. These transactions included 75-100 MMcfe/d of net production and 10 net undeveloped locations.
Capital Expenditures
- Antero's drilling and completion capital expenditures for the three months ended September 30, 2025, were $172 million, with an additional $42 million invested in land during the same quarter.
- For the full year 2025, Antero's drilling and completion capital budget is projected to be between $650 million and $700 million, with a land capital budget of $125 million to $150 million. The primary focus is expanded leasing in its core liquids-rich Marcellus Fairway.
- In the first quarter of 2025, drilling and completion capital expenditures were $157 million, and $30 million was invested in land, adding approximately 6,000 net acres and 26 incremental drilling locations.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 37.29 |
| Mkt Cap | 9.5 |
| Rev LTM | 3,879 |
| Op Inc LTM | 757 |
| FCF LTM | 877 |
| FCF 3Y Avg | 761 |
| CFO LTM | 1,335 |
| CFO 3Y Avg | 1,171 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 31.6% |
| Rev Chg 3Y Avg | -11.8% |
| Rev Chg Q | 34.3% |
| QoQ Delta Rev Chg LTM | 6.5% |
| Op Mgn LTM | 32.7% |
| Op Mgn 3Y Avg | 26.4% |
| QoQ Delta Op Mgn LTM | 2.7% |
| CFO/Rev LTM | 50.7% |
| CFO/Rev 3Y Avg | 54.2% |
| FCF/Rev LTM | 24.3% |
| FCF/Rev 3Y Avg | 20.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.5 |
| P/S | 3.0 |
| P/EBIT | 11.1 |
| P/E | 18.1 |
| P/CFO | 6.6 |
| Total Yield | 6.0% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 7.7% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.9% |
| 3M Rtn | 4.6% |
| 6M Rtn | 15.3% |
| 12M Rtn | 8.9% |
| 3Y Rtn | 76.4% |
| 1M Excs Rtn | 8.0% |
| 3M Excs Rtn | 3.7% |
| 6M Excs Rtn | 6.7% |
| 12M Excs Rtn | -3.1% |
| 3Y Excs Rtn | -3.9% |
Comparison Analyses
Segment Financials
Assets by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Exploration and Production | 13,602 | 14,081 | 13,864 | 13,151 | 14,122 |
| Equity Method Investment in Antero Midstream | 5,738 | 5,791 | 5,544 | 5,611 | 6,283 |
| Marketing | 17 | 37 | 32 | 21 | |
| Elimination of Unconsolidated Affiliate | -5,738 | -5,791 | -5,544 | -5,611 | -5,228 |
| Total | 13,619 | 14,118 | 13,897 | 13,151 | 15,198 |
Price Behavior
Price Behavior
| Market Price | $33.85 | |
| Market Cap ($ Bil) | 10.5 | |
| First Trading Date | 10/10/2013 | |
| Distance from 52W High | -22.7% | |
| 50 Days | 200 Days | |
| DMA Price | $34.36 | $34.79 |
| DMA Trend | down | up |
| Distance from DMA | -1.5% | -2.7% |
| 3M | 1YR | |
| Volatility | 40.4% | 44.2% |
| Downside Capture | 1.35 | 97.21 |
| Upside Capture | 22.75 | 68.43 |
| Correlation (SPY) | 8.8% | 46.1% |
AR Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.58 | -0.33 | 0.53 | 0.82 | 1.07 | 1.08 |
| Up Beta | 1.25 | 0.78 | 0.33 | 0.40 | 0.86 | 0.92 |
| Down Beta | -0.49 | -0.44 | 0.52 | 1.15 | 1.60 | 1.58 |
| Up Capture | -38% | -34% | 109% | 74% | 71% | 66% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 32 | 63 | 129 | 390 |
| Down Capture | -214% | -70% | 15% | 82% | 99% | 99% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 20 | 29 | 62 | 120 | 358 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AR | |
|---|---|---|---|---|
| AR | -12.2% | 44.3% | -0.17 | - |
| Sector ETF (XLE) | 18.9% | 25.2% | 0.64 | 61.5% |
| Equity (SPY) | 13.6% | 19.3% | 0.54 | 46.2% |
| Gold (GLD) | 69.7% | 24.7% | 2.11 | 5.3% |
| Commodities (DBC) | 7.1% | 16.6% | 0.24 | 49.8% |
| Real Estate (VNQ) | 4.4% | 16.5% | 0.09 | 38.3% |
| Bitcoin (BTCUSD) | -26.6% | 40.5% | -0.66 | 18.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AR | |
|---|---|---|---|---|
| AR | 37.5% | 50.8% | 0.81 | - |
| Sector ETF (XLE) | 26.1% | 26.5% | 0.88 | 62.2% |
| Equity (SPY) | 14.4% | 17.0% | 0.67 | 37.5% |
| Gold (GLD) | 20.8% | 16.9% | 1.01 | 10.5% |
| Commodities (DBC) | 11.7% | 18.9% | 0.50 | 47.7% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 30.2% |
| Bitcoin (BTCUSD) | 16.0% | 57.4% | 0.49 | 14.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AR | |
|---|---|---|---|---|
| AR | 2.7% | 60.9% | 0.30 | - |
| Sector ETF (XLE) | 10.6% | 29.6% | 0.40 | 55.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 33.7% |
| Gold (GLD) | 15.4% | 15.5% | 0.83 | 2.5% |
| Commodities (DBC) | 7.9% | 17.6% | 0.37 | 39.0% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.26 | 28.6% |
| Bitcoin (BTCUSD) | 69.0% | 66.5% | 1.08 | 6.6% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | -5.0% | 3.8% | 13.1% |
| 7/30/2025 | 3.3% | -2.4% | -5.0% |
| 4/30/2025 | -0.5% | 5.4% | 7.5% |
| 2/12/2025 | 2.0% | 0.3% | -4.6% |
| 10/30/2024 | -8.3% | 1.5% | 15.8% |
| 7/31/2024 | -0.9% | -12.8% | -7.3% |
| 4/24/2024 | 6.2% | 3.9% | 6.6% |
| 2/14/2024 | 10.9% | 21.1% | 21.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 15 | 15 |
| # Negative | 11 | 9 | 9 |
| Median Positive | 3.3% | 5.4% | 14.0% |
| Median Negative | -2.6% | -3.9% | -7.3% |
| Max Positive | 21.1% | 22.4% | 28.2% |
| Max Negative | -9.0% | -12.8% | -28.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/12/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/15/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/16/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Krueger, Brendan E | See Remarks | Direct | Buy | 11102025 | 33.35 | 5,000 | 166,750 | 9,868,832 | Form |
| 2 | Schultz, Yvette K | See Remarks | Direct | Sell | 5192025 | 39.86 | 25,200 | 1,004,472 | 12,229,805 | Form |
| 3 | Keenan, W Howard Jr | See Footnote | Sell | 5152025 | 40.82 | 1,061,987 | 43,351,919 | 1,551,748 | Form | |
| 4 | Keenan, W Howard Jr | See Footnote | Sell | 5152025 | 40.32 | 38,013 | Form | |||
| 5 | Pearce, Sheri | See Remarks | Direct | Sell | 5142025 | 41.18 | 12,647 | 520,803 | 2,604,017 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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