ARC Resources Ltd. (TSE:ARX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ARC Resources Ltd. (TSE:ARXGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$22.15.

A number of research analysts have weighed in on ARX shares. Stifel Nicolaus increased their target price on ARC Resources from C$23.25 to C$26.00 in a report on Wednesday. CIBC lowered their target price on ARC Resources from C$28.00 to C$25.00 in a report on Wednesday, July 13th. Raymond James set a C$22.00 target price on ARC Resources and gave the company an “outperform” rating in a report on Friday, May 6th. National Bankshares lowered their target price on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Finally, BMO Capital Markets raised their price objective on ARC Resources from C$20.00 to C$22.00 in a research note on Friday, May 6th.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Larissa Marianne Conrad sold 9,354 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of C$20.02, for a total transaction of C$187,274.56. In other news, Senior Officer Larissa Marianne Conrad sold 9,354 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of C$20.02, for a total value of C$187,274.56. Also, Senior Officer Terry Michael Anderson sold 63,341 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of C$19.61, for a total value of C$1,241,806.64. Insiders sold 110,893 shares of company stock worth $2,228,663 in the last quarter.

ARC Resources Trading Up 1.9 %

Shares of TSE:ARX opened at C$16.91 on Friday. The company has a market cap of C$11.22 billion and a P/E ratio of 7.83. The company has a debt-to-equity ratio of 34.97, a current ratio of 0.44 and a quick ratio of 0.41. ARC Resources has a 1 year low of C$7.51 and a 1 year high of C$22.88. The stock’s fifty day moving average price is C$17.32 and its 200-day moving average price is C$16.59.

ARC Resources (TSE:ARXGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas exploration company reported C$1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.86 by C$0.27. The business had revenue of C$2.37 billion for the quarter. Sell-side analysts expect that ARC Resources will post 2.841644 earnings per share for the current year.

ARC Resources Company Profile

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ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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