ARC Resources (TSE:ARX) Price Target Lowered to C$27.00 at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price objective trimmed by Jefferies Financial Group from C$28.00 to C$27.00 in a research report released on Tuesday morning,BayStreet.CA reports.

ARX has been the subject of several other reports. UBS Group downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. CIBC cut their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Roth Capital upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th. Finally, National Bankshares cut 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 report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ARC Resources presently has a consensus rating of “Buy” and a consensus price target of C$32.46.

ARC Resources Price Performance

ARX stock opened at C$24.46 on Tuesday. 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 has a 50 day moving average price of C$25.07 and a 200-day moving average price of C$25.80. ARC Resources has a 52-week low of C$22.63 and a 52-week high of C$31.56. The firm has a market capitalization of C$14.08 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.29 and a beta of -0.23.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. The company 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%. Equities research analysts forecast that ARC Resources will post 2.7255139 EPS 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.