Jefferies Financial Group Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price target dropped by equities researchers at Jefferies Financial Group from C$28.00 to C$27.00 in a report released on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s target price suggests a potential upside of 10.70% from the company’s previous close.

ARX has been the subject of several other reports. MKM Partners set a C$34.00 price objective on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. CIBC lowered their target price on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. UBS Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Scotiabank downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$36.00 to C$30.00 in a research report on Friday, November 7th. Finally, National Bankshares lowered their price objective on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, ARC Resources presently has a consensus rating of “Buy” and a consensus target price of C$32.46.

ARC Resources Trading Up 0.8%

Shares of TSE ARX traded up C$0.19 during midday trading on Tuesday, reaching C$24.39. The stock had a trading volume of 2,124,871 shares, compared to its average volume of 3,948,334. The company’s 50 day moving average price is C$25.06 and its 200 day moving average price is C$25.82. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a twelve month low of C$22.63 and a twelve month high of C$31.56. The firm has a market cap of C$14.04 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.29 and a beta of -0.23.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The company had revenue of C$1.38 billion during the quarter. As a group, sell-side analysts expect that ARC Resources will post 2.7255139 EPS for the current 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.