Friday’s 10 Worst Performing Stocks

6. Antero Resources Corp. (NYSE:AR)

Antero Resources declined for a second day on Friday, losing 14.47 percent at intra-day trading as investors disposed of its shares after the US Court of Appeals for the 6th Circuit of Ohio upheld its decision siding with 370 landowners over claims that AR underpaid them $10 million in natural gas royalties.

According to the landowners, the company improperly deducted certain processing and fractionation costs from their royalty payments, violating their lease agreements.

The landowners already won against AR in 2023 when the US District Court for the Southern District of Ohio, Eastern Division, ruled in favor of the landowners. AR then appealed the case to the 6th Circuit.

AR is an independent oil and gas company that acquires, explores, develops, and produces natural gas, natural gas liquids, and oil in the Appalachian Basin. Headquartered in Denver, it focuses on developing low-cost, repeatable, liquids-rich unconventional targets in the Marcellus and the Utica shales, two of the premier North American shale plays.