ARC Resources (TSE:ARX) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of ARC Resources (TSE:ARX) to a strong-buy rating in a report released on Friday,Zacks.com reports.

A number of other equities analysts have also weighed in on ARX. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. CIBC cut their price objective on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. National Bankshares decreased their price objective on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. MKM Partners set a C$34.00 target price on shares of ARC Resources and gave the company a “buy” rating in a research report on Friday. Finally, Scotiabank cut shares of ARC Resources from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$36.00 to C$30.00 in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, ARC Resources presently has an average rating of “Buy” and an average price target of C$32.54.

ARC Resources Stock Performance

TSE ARX opened at C$25.00 on Friday. The company’s 50 day simple moving average is C$25.36 and its two-hundred day simple moving average is C$26.59. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. ARC Resources has a 1 year low of C$22.63 and a 1 year high of C$31.56. The stock has a market capitalization of C$14.39 billion, a PE ratio of 10.64, a P/E/G ratio of 0.29 and a beta of -0.05.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The firm had revenue of C$1.38 billion during the quarter. 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.