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

ARC Resources (TSE:ARX) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other equities analysts also recently issued reports on ARX. UBS Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Jefferies Financial Group reduced their target price on shares of ARC Resources from C$30.00 to C$28.00 in a research note on Monday, November 10th. Raymond James Financial decreased their target price on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. CIBC cut their price target on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Finally, National Bankshares decreased their price objective on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$32.54.

ARC Resources Stock Performance

Shares of ARX stock opened at C$25.00 on Friday. The company has a market cap of C$14.39 billion, a P/E ratio of 10.64, a PEG ratio of 0.29 and a beta of -0.05. The business has a 50 day moving average of C$25.36 and a two-hundred day moving average of C$26.59. ARC Resources has a 52 week low of C$22.63 and a 52 week high of C$31.56. 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 (TSE:ARX) last announced its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%.The business had revenue of C$1.38 billion for the quarter. As a group, analysts anticipate that ARC Resources will post 2.7255139 EPS 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.