Desjardins Issues Pessimistic Forecast for ARC Resources (TSE:ARX) Stock Price

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 on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Desjardins’ target price indicates a potential upside of 16.58% from the stock’s previous close.

Several other analysts have also recently commented on ARX. Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th. Capital One Financial raised ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. Natl Bk Canada downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday. Raymond James Financial downgraded ARC Resources from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$31.00 to C$28.00 in a research note on Monday. Finally, MKM Partners set a C$34.00 price objective on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$29.21.

ARC Resources Stock Performance

ARX traded up C$0.33 on Monday, hitting C$23.16. 4,305,571 shares of the company traded hands, compared to its average volume of 4,543,331. The company has a 50 day moving average of C$25.18 and a 200-day moving average 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 stock has a market capitalization of C$13.33 billion, a PE ratio of 9.86, a PEG ratio of 0.29 and a beta of 0.00. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. Sell-side analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Company Profile

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.