NEW YORK (TheStreet) -- Antero Resources Corp. (AR) - Get Report stock is down 0.13% to $37.08 in morning trading Friday after Canaccord reduced its price target to $51 from $54, while maintaining its "buy" rating. 

The oil and gas company announced a senior notes offering worth $750 million and a 11.5 million shares public offering of common stock with a 30-day option to offer an additional 1.725 million shares. 

"Both transactions are expected to be used to pay down the revolving redit facility which stood at $1.73 billion at year-end," analyst said.  

According to Canaccord, these offerings are estimated to reduce net debt by $517 million and the outstanding balance on the revolver by $1.23 billion.  

"With current maximum availability under the revolving credit facility at $4 billion and projected outspend for Antero at $940 million and $764 million for 2015 and 2016, respectively, Antero is positioned to spend well within their current means and leaves room to ramp up rig activity should commodity prices rebound," the firm noted. 

Due to supply, Canaccord sees a downside to oil, NGL and natural gas prices this summer, analysts said, adding that Antero will conentrate its drilling and completion operations on liquids-rich assets. 

Separately, TheStreet Ratings team rates ANTERO RESOURCES CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate ANTERO RESOURCES CORP (AR) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been very high debt management risk by most measures."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The debt-to-equity ratio of 1.10 is relatively high when compared with the industry average, suggesting a need for better debt level management. Along with this, the company manages to maintain a quick ratio of 0.20, which clearly demonstrates the inability to cover short-term cash needs.
• Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, ANTERO RESOURCES CORP's return on equity significantly trails that of both the industry average and the S&P 500.
• AR's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 30.83%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter.
• The gross profit margin for ANTERO RESOURCES CORP is currently very high, coming in at 79.16%. Regardless of AR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, AR's net profit margin of 26.74% significantly outperformed against the industry.
• Net operating cash flow has improved to $300.72 million from having none in the same quarter last year. Since the company had no net operating cash flow for the prior period, we cannot calculate a percent change in order to compare its growth rate with that of its industry average.
• You can view the full analysis from the report here: AR Ratings Report