ARC Resources Ltd. (TSE:ARX) Receives C$32.29 Consensus Price Target from Analysts

ARC Resources Ltd. (TSE:ARX) has received a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$32.13.

ARX has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of 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. Jefferies Financial Group dropped their target price on ARC Resources from C$28.00 to C$27.00 in a research report on Tuesday, January 20th. CIBC cut their target price on ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. MKM Partners set a C$34.00 price target on ARC Resources and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, UBS Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th.

ARC Resources Price Performance

ARC Resources stock opened at C$25.40 on Friday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The business has a 50 day simple moving average of C$25.22 and a 200-day simple moving average of C$25.64. ARC Resources has a 12 month low of C$22.63 and a 12 month high of C$31.56. The stock has a market capitalization of C$14.77 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. Equities analysts predict 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.