Antero Resources (AR) Jumps 7% as Winter Chill Heats Up NatGas Demand

We recently published Wall Street Can’t Keep up With These 10 Crushing Stocks; 6 at Fresh Record Highs. Antero Resources Corp. (NYSE:AR) is one of the best-performing on Monday.

Oil and gas firm Antero Resources extended gains for a second day on Monday, jumping 7.21 percent to close at $33.14 apiece as investors took heart from the increasing prices of natural gas and an impressive earnings performance in the third quarter of the year.

As of writing, the benchmark Nymex index was up by 3.56 percent to $4.27/MMBtu over expectations of stronger demand for natural gas resources amid the upcoming winter season.

“Seasonal outlooks show an increased cold risk throughout the winter, which is working to keep pricing propped up,” Pinebrook Energy Advisors Managing Partner Andy Huenefeld was quoted as saying in a report by the Wall Street Journal.

Meanwhile, Antero Resources Corp. (NYSE:AR) last week announced that it swung to profitability, having incurred a $76.18 million net income in the third quarter versus a $35.3 million net loss in the same period last year.

Revenues also grew by 15 percent to $1.2 billion from $1.05 billion in the same comparable period.

Looking ahead, Antero Resources Corp. (NYSE:AR) is targeting full-year production to hit the upper range of its earlier forecast of 3.4 to 3.45 billion cubic feet equivalent per day (Bcfe/d), amid successful bolt-on acquisitions at its Marcellus acreage site in West Virginia for $260 million which supported higher production.

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Disclosure: None. This article is originally published at Insider Monkey.