ARC Resources (TSE:ARX) Lowered to Hold Rating by UBS Group

ARC Resources (TSE:ARX) was downgraded by stock analysts at UBS Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

ARX has been the topic of a number of other research reports. Raymond James Financial cut their price target on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. National Bankshares decreased their target price on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. CIBC dropped their price target on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Capital One Financial raised ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group dropped their target price on ARC Resources from C$30.00 to C$28.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$32.41.

ARC Resources Stock Down 1.2%

Shares of ARC Resources stock opened at C$25.91 on Friday. ARC Resources has a 12-month low of C$22.63 and a 12-month high of C$31.56. The firm has a market capitalization of C$14.92 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.29 and a beta of -0.05. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The stock’s fifty day moving average is C$25.48 and its 200-day moving average is C$26.73.

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 firm 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 anticipate that ARC Resources will post 2.7255139 earnings per share for the current 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.