Jefferies Financial Group Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price target reduced by stock analysts at Jefferies Financial Group from C$30.00 to C$28.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective indicates a potential upside of 15.70% from the company’s current price.

Several other research firms have also issued reports on ARX. CIBC cut their target price on ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Raymond James Financial lowered their price target on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. National Bankshares decreased their target price on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Finally, Scotiabank lowered shares of ARC Resources from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$36.00 to C$30.00 in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Buy” and a consensus price target of C$32.41.

ARC Resources Trading Down 1.2%

Shares of TSE:ARX opened at C$24.20 on Monday. ARC Resources has a 12-month low of C$22.63 and a 12-month high of C$31.56. The business’s fifty day simple moving average is C$25.45 and its 200-day simple moving average is C$27.07. The company has a market capitalization of C$13.93 billion, a PE ratio of 10.30, a P/E/G ratio of 0.29 and a beta of -0.01. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05.

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.