Analysts Set ARC Resources Ltd. (TSE:ARX) Target Price at C$29.98

ARC Resources Ltd. (TSE:ARX) has been assigned an average rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$29.98.

Several analysts have issued reports on ARX shares. BMO Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 target price for the company. in a research note on Tuesday, April 28th. Jefferies Financial Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Scotiabank upgraded ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. Finally, TD Securities cut ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, April 27th.

ARC Resources Trading Up 4.0%

ARX stock opened at C$31.16 on Wednesday. The company has a market capitalization of C$17.65 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.29 and a beta of -0.36. ARC Resources has a one year low of C$21.14 and a one year high of C$32.58. The company’s 50 day moving average price is C$30.99 and its two-hundred day moving average price is C$27.60. The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. The company had revenue of C$2.10 billion during the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. As a group, analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.