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

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus rating of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$32.29.

A number of brokerages recently commented on ARX. Scotiabank dropped their price target on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 21st. Roth Mkm raised ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. National Bankshares reduced 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 report on Friday, November 7th. Finally, Jefferies Financial Group lowered their price objective on shares of ARC Resources from C$28.00 to C$27.00 in a research report on Tuesday, January 20th.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$25.27 on Friday. The company has a market cap of C$14.70 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.29 and a beta of -0.23. ARC Resources has a 52-week low of C$22.63 and a 52-week high of C$31.56. 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$25.16 and its two-hundred day moving average is C$25.67.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The business had revenue of C$1.38 billion during the quarter. As a group, analysts anticipate that ARC Resources will post 2.7255139 EPS for the current fiscal year.

About ARC Resources

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.