ARC Resources Ltd. (TSE:ARX) Receives C$32.54 Average Target Price from Analysts

Shares of ARC Resources Ltd. (TSE:ARX) have been given a consensus recommendation of “Buy” by the twelve research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$32.54.

ARX has been the topic of a number of recent research reports. Raymond James Financial decreased 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 report on Monday, September 15th. UBS Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Jefferies Financial Group decreased their price target on shares of ARC Resources from C$30.00 to C$28.00 in a research note on Monday, November 10th. Scotiabank cut shares of ARC Resources from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$36.00 to C$30.00 in a research note on Friday, November 7th. Finally, Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th.

ARC Resources Price Performance

TSE:ARX opened at C$23.47 on Wednesday. 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 one year low of C$22.63 and a one year high of C$31.56. The company has a fifty day moving average price of C$25.25 and a 200 day moving average price of C$26.07. The stock has a market cap of C$13.51 billion, a P/E ratio of 9.99, a PEG ratio of 0.29 and a beta of -0.23.

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