ARC Resources (TSE:ARX) Upgraded by Scotiabank to “Hold” Rating

ARC Resources (TSE:ARX) was upgraded by research analysts at Scotiabank to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. MKM Partners set a C$34.00 target price on shares of ARC Resources and gave the company a “buy” rating in a report on Friday, December 19th. Roth Mkm raised ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and cut their target price for the company from C$27.50 to C$25.50 in a research note on Monday, February 9th. National Bank Financial lowered ARC Resources from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$27.00 to C$26.00 in a research report on Friday, February 6th. Finally, Raymond James Financial lowered shares of ARC Resources from a “moderate buy” rating to a “hold” rating and cut their price objective for the stock from C$31.00 to C$28.00 in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.00.

ARC Resources Stock Down 6.3%

ARC Resources stock opened at C$27.12 on Wednesday. ARC Resources has a fifty-two week low of C$21.14 and a fifty-two week high of C$31.56. The firm has a market capitalization of C$15.77 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.29 and a beta of -0.06. The stock’s fifty day moving average is C$26.12 and its two-hundred day moving average is C$25.57. The company has a debt-to-equity ratio of 58.50, a quick ratio of 0.42 and a current ratio of 0.70.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. The business had revenue of C$1.58 billion for the quarter. 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.