Brokerages Set ARC Resources Ltd. (TSE:ARX) Price Target at C$29.00

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$29.00.

Several analysts have recently commented on the company. UBS Group downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. BMO Capital Markets cut their price target on ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Desjardins reduced their price objective on ARC Resources from C$31.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, February 9th. MKM Partners set a C$34.00 target price on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$27.50 to C$25.50 in a report on Monday, February 9th.

ARC Resources Stock Performance

Shares of ARX stock opened at C$25.32 on Thursday. The firm has a 50 day moving average of C$24.74 and a 200-day moving average of C$25.28. The company has a market cap of C$14.45 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The company has a quick ratio of 0.42, a current ratio of 0.70 and a debt-to-equity ratio of 58.50. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$31.56.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. The business had revenue of C$1.58 billion for the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. On average, equities analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current 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.