ARC Resources (TSE:ARX) Releases Earnings Results

ARC Resources (TSE:ARX) released its earnings results on Thursday. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$2.16 billion during the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$32.98 on Friday. The company’s fifty day moving average price is C$31.22 and its 200-day moving average price is C$28.42. The firm has a market capitalization of C$18.68 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.29 and a beta of -0.36. ARC Resources has a one year low of C$21.14 and a one year high of C$33.16. The company has a debt-to-equity ratio of 43.61, a current ratio of 0.87 and a quick ratio of 0.42.

Analysts Set New Price Targets

ARX has been the subject of a number of recent analyst reports. Capital One Financial downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Raymond James Financial lifted their price objective on ARC Resources from C$29.00 to C$32.80 in a report on Tuesday, April 28th. Jefferies Financial Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. BMO Capital Markets cut shares of ARC Resources from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$30.00 to C$32.00 in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada upped their price target on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$30.35.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.