ARC Resources (TSE:ARX) Raised to “Strong-Buy” at Roth Capital

ARC Resources (TSE:ARX) was upgraded by Roth Capital to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

ARX has been the topic of several other research reports. CIBC dropped their price target on shares of ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. National Bankshares lowered their price objective on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Finally, Scotiabank downgraded ARC Resources from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$36.00 to C$30.00 in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$32.54.

ARC Resources Trading Up 0.7%

TSE:ARX opened at C$25.00 on Friday. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The firm has a market capitalization of C$14.39 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.29 and a beta of -0.05. The stock has a fifty day simple moving average of C$25.36 and a 200 day simple moving average of C$26.59. ARC Resources has a 1-year low of C$22.63 and a 1-year high of C$31.56.

ARC Resources (TSE:ARX) last released 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 firm had revenue of C$1.38 billion for the quarter. Sell-side analysts forecast 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.