ARC Resources (TSE:ARX) Stock Rating Lowered by BMO Capital Markets

ARC Resources (TSE:ARXGet Free Report) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$32.00 target price on the oil and gas exploration company’s stock, up from their previous target price of C$30.00. BMO Capital Markets’ price objective points to a potential upside of 1.39% from the stock’s previous close.

ARX has been the subject of several other reports. Raymond James Financial increased their price objective on ARC Resources from C$29.00 to C$32.80 in a report on Tuesday. Canadian Imperial Bank of Commerce lowered ARC Resources from a “neutral” rating to a “tender” rating and increased their price objective for the company from C$29.00 to C$32.00 in a report on Tuesday. ATB Cormark Capital Markets cut ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price objective on the stock. in a research note on Tuesday. Royal Bank Of Canada lowered their price objective on ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Finally, Scotiabank upgraded ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, ARC Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$29.98.

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ARC Resources Stock Up 1.1%

Shares of TSE ARX traded up C$0.34 during trading on Tuesday, hitting C$31.56. The stock had a trading volume of 11,722,362 shares, compared to its average volume of 5,020,665. ARC Resources has a 12 month low of C$21.14 and a 12 month high of C$31.99. The firm has a fifty day moving average of C$26.74 and a two-hundred day moving average of C$25.67. The company has a debt-to-equity ratio of 58.50, a current ratio of 0.70 and a quick ratio of 0.42. The company has a market capitalization of C$18.36 billion, a PE ratio of 14.41, a PEG ratio of 0.29 and a beta of -0.30.

ARC Resources (TSE:ARXGet Free Report) 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. The firm had revenue of C$1.58 billion during the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%. As a group, equities research analysts forecast that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources News Roundup

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ARC Resources Company Profile

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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.

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