Scotiabank Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its target price dropped by stock analysts at Scotiabank from C$38.00 to C$36.00 in a research report issued on Thursday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 38.62% from the company’s current price.

A number of other equities research analysts have also weighed in on ARX. Raymond James Financial decreased their target price on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. BMO Capital Markets boosted their target price on shares of ARC Resources from C$32.00 to C$33.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$33.42.

ARC Resources Price Performance

Shares of ARX opened at C$25.97 on Thursday. The firm has a market cap of C$15.11 billion, a PE ratio of 10.26, a P/E/G ratio of 0.29 and a beta of 0.13. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The firm has a fifty day simple moving average of C$26.11 and a two-hundred day simple moving average of C$27.26. ARC Resources has a 1-year low of C$22.50 and a 1-year high of C$31.56.

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.