ARC Resources Ltd. (TSE:ARX) Receives Average Rating of “Buy” from Analysts

ARC Resources Ltd. (TSE:ARX) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$32.54.

ARX has been the topic of several research analyst reports. Raymond James Financial lowered their target price on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Scotiabank downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$36.00 to C$30.00 in a research report on Friday, November 7th. CIBC cut their target price on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, National Bankshares dropped their price target on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th.

ARC Resources Price Performance

ARX opened at C$23.47 on Wednesday. The firm has a market capitalization of C$13.65 billion, a P/E ratio of 9.99, a PEG ratio of 0.29 and a beta of -0.23. The stock has a fifty day moving average of C$25.25 and a 200-day moving average of C$26.02. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 12-month low of C$22.63 and a 12-month high of C$31.56.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. The business had revenue of C$1.38 billion for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. Equities analysts forecast that ARC Resources will post 2.7255139 EPS 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.