ARC Resources Ltd. (TSE:ARX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$29.00.

Several research firms have weighed in on ARX. MKM Partners set a C$34.00 price target on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and cut their target price for the company from C$27.50 to C$25.50 in a research note on Monday, February 9th. UBS Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. National Bank Financial downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and lowered their price target for the stock from C$27.00 to C$26.00 in a report on Friday, February 6th. Finally, Royal Bank Of Canada cut their price objective on shares of ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a research report on Monday, February 9th.

ARC Resources Stock Performance

TSE:ARX opened at C$24.57 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The company has a market capitalization of C$14.02 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The firm has a 50-day moving average price of C$24.74 and a two-hundred day moving average price of C$25.34. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$31.56.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The company had revenue of C$1.58 billion for the quarter. As a group, research analysts expect that ARC Resources will post 2.7255139 earnings per share 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.