ARC Resources Ltd. (TSE:ARX) Given Average Rating of “Buy” by Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$32.54.

A number of research analysts recently commented on the company. Raymond James Financial lowered their price target on 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. UBS Group cut shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. CIBC reduced their price target on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Finally, National Bankshares decreased their price target on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th.

ARC Resources Stock Down 2.7%

ARX opened at C$24.47 on Wednesday. The stock has a market cap of C$14.09 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.29 and a beta of -0.23. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The firm’s fifty day moving average is C$25.40 and its 200 day moving average is C$26.16. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. The business had revenue of C$1.38 billion for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. On average, sell-side analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current fiscal 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.