Desjardins Lowers ARC Resources (TSE:ARX) Price Target to C$27.00

ARC Resources (TSE:ARX) had its price target cut by equities research analysts at Desjardins from C$31.00 to C$27.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Desjardins’ price target suggests a potential upside of 16.58% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. National Bankshares cut shares of ARC Resources from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$27.00 to C$26.00 in a report on Friday. MKM Partners set a C$34.00 price target on shares of ARC Resources and gave the company a “buy” rating in a research report on Friday, December 19th. Raymond James Financial lowered ARC Resources from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$31.00 to C$28.00 in a research report on Monday. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Natl Bk Canada cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, ARC Resources has an average rating of “Moderate Buy” and a consensus price target of C$29.21.

ARC Resources Trading Up 1.4%

TSE ARX traded up C$0.33 on Monday, reaching C$23.16. The stock had a trading volume of 4,305,571 shares, compared to its average volume of 4,543,331. The stock has a fifty day moving average price of C$25.18 and a two-hundred day moving average price of C$25.60. ARC Resources has a 12-month low of C$21.14 and a 12-month high of C$31.56. 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$13.33 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.29 and a beta of 0.00.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. As a group, sell-side analysts forecast 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.