ARC Resources (TSE:ARX) Price Target Raised to C$32.00

ARC Resources (TSE:ARX) had its target price raised by Royal Bank Of Canada from C$28.00 to C$32.00 in a research note released on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

ARX has been the subject of a number of other reports. BMO Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$30.00 to C$32.00 in a research note on Tuesday, April 28th. Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from a “neutral” rating to a “tender” rating and raised their target price for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Raymond James Financial boosted their price target on shares of ARC Resources from C$29.00 to C$32.80 in a report on Tuesday, April 28th. Capital One Financial cut shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, TD Securities cut shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ARC Resources has an average rating of “Hold” and a consensus target price of C$30.35.

ARC Resources Trading Up 1.6%

ARX opened at C$32.27 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61. The stock’s fifty day moving average is C$31.00 and its two-hundred day moving average is C$27.92. The company has a market capitalization of C$18.28 billion, a P/E ratio of 12.75, a PEG ratio of 0.29 and a beta of -0.36. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$32.58.

ARC Resources (TSE:ARX) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.The business had revenue of C$2.10 billion during the quarter. 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.