ARC Resources (TSE:ARX) Price Target Lowered to C$28.00 at National Bankshares

ARC Resources (TSE:ARX) had its price target cut by National Bankshares from C$29.00 to C$28.00 in a research report report published on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Other analysts also recently issued research reports about the company. Scotiabank dropped their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 21st. Capital One Financial raised ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. Jefferies Financial Group cut their price objective on ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. CIBC lowered their target price on ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Finally, Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ARC Resources presently has an average rating of “Buy” and an average target price of C$32.13.

ARC Resources Stock Performance

Shares of TSE:ARX opened at C$25.21 on Tuesday. The firm’s 50 day simple moving average is C$25.16 and its 200 day simple moving average is C$25.64. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56. The company has a market capitalization of C$14.66 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.29 and a beta of 0.00. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42.

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