Jefferies Financial Group Cuts ARC Resources (TSE:ARX) Price Target to C$27.00

ARC Resources (TSE:ARX) had its price objective cut by Jefferies Financial Group from C$28.00 to C$27.00 in a report issued on Tuesday morning,BayStreet.CA reports.

Several other analysts have also recently issued reports on ARX. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. MKM Partners set a C$34.00 price target on shares of ARC Resources and gave the company a “buy” rating in a research note on Friday, December 19th. CIBC lowered their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Finally, National Bankshares decreased their target price on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$32.29.

ARC Resources Stock Down 1.8%

ARX opened at C$25.08 on Tuesday. The company has a market capitalization of C$14.59 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.29 and a beta of -0.23. The firm has a 50-day simple moving average of C$25.12 and a two-hundred day simple moving average of C$25.79. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 52 week low of C$22.63 and a 52 week high of C$31.56.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%.The company had revenue of C$1.38 billion for the quarter. Analysts forecast that ARC Resources will post 2.7255139 earnings per share 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.