ARC Resources (TSE:ARX) Lowered to “Neutral” Rating by CIBC World Markets

ARC Resources (TSE:ARX) was downgraded by investment analysts at CIBC World Markets from an “outperform” rating to a “neutral” rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$25.50 target price on the oil and gas exploration company’s stock, down from their prior target price of C$27.50. CIBC World Markets’ price objective points to a potential upside of 10.10% from the stock’s previous close.

ARX has been the subject of several other reports. MKM Partners set a C$34.00 target price on ARC Resources and gave the company a “buy” rating in a research note on Friday, December 19th. UBS Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Scotiabank cut their target price on shares of ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Roth Mkm upgraded ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, ARC Resources has an average rating of “Moderate Buy” and a consensus price target of C$29.21.

ARC Resources Stock Up 1.4%

ARC Resources stock traded up C$0.33 during midday trading on Monday, hitting C$23.16. 4,305,571 shares of the company were exchanged, compared to its average volume of 4,543,331. The company has a market cap of C$13.33 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The company’s fifty day moving average price is C$25.18 and its 200-day moving average price is C$25.60. ARC Resources has a fifty-two week low of C$21.14 and a fifty-two week high of C$31.56. 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 (TSE:ARX) last released its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. On average, research analysts predict that ARC Resources will post 2.7255139 EPS for the current fiscal year.

About ARC Resources

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.