ARC Resources (TSE:ARX) Issues Earnings Results

ARC Resources (TSE:ARX) announced its earnings results on Thursday. The oil and gas exploration company reported C$0.62 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$2.16 billion during the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.

ARC Resources Trading Up 1.7%

ARC Resources stock opened at C$33.53 on Friday. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$33.56. The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87. The firm has a market capitalization of C$18.99 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.29 and a beta of -0.36. The company has a 50 day moving average price of C$31.27 and a 200 day moving average price of C$28.46.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce lowered shares of ARC Resources from a “neutral” rating to a “tender” rating and lifted their price target for the company from C$29.00 to C$32.00 in a report on Tuesday, April 28th. ATB Cormark Capital Markets downgraded ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price objective for the company. in a research note on Tuesday, April 28th. Raymond James Financial boosted their price target on shares of ARC Resources from C$29.00 to C$32.80 in a report on Tuesday, April 28th. Royal Bank Of Canada upped their target price on shares of ARC Resources from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Finally, TD Securities downgraded ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$30.35.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.