National Bankshares Cuts ARC Resources (TSE:ARX) Price Target to C$28.00

ARC Resources (TSE:ARX) had its target price reduced by National Bankshares from C$29.00 to C$28.00 in a report released on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Several other analysts also recently issued reports on ARX. CIBC reduced their price target on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Jefferies Financial Group reduced their target price on ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. MKM Partners set a C$34.00 price target on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Roth Mkm raised ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Finally, Scotiabank decreased their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 21st. Two 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 stock. According to MarketBeat.com, ARC Resources currently has a consensus rating of “Buy” and an average target price of C$32.13.

ARC Resources Trading Down 3.8%

Shares of ARX stock opened at C$25.40 on Tuesday. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56. The stock has a market cap of C$14.77 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.29 and a beta of 0.00. The business has a fifty day simple moving average of C$25.22 and a 200-day simple moving average of C$25.64. 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 (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 20.95% and a return on equity of 14.60%. On average, analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current fiscal 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.