ARC Resources (TSE:ARX) Price Target Raised to C$32.00

ARC Resources (TSE:ARX) had its price target upped by Royal Bank Of Canada from C$28.00 to C$32.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 1.62% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on ARX. Scotiabank upgraded shares of ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. Jefferies Financial Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. BMO Capital Markets downgraded shares of ARC Resources from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$30.00 to C$32.00 in a report on Tuesday, April 28th. TD Securities cut ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Capital One Financial lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ARC Resources currently has an average rating of “Hold” and an average price target of C$30.35.

ARC Resources Price Performance

Shares of ARX stock traded down C$0.17 on Wednesday, reaching C$31.49. 1,187,140 shares of the company were exchanged, compared to its average volume of 4,834,294. ARC Resources has a 1 year low of C$21.14 and a 1 year high of C$32.58. The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87. The business has a 50-day moving average price of C$30.94 and a 200 day moving average price of C$27.81. The company has a market cap of C$17.84 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.29 and a beta of -0.36.

ARC Resources (TSE:ARX) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.The company had revenue of C$2.10 billion during the quarter. Equities research 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.