ARC Resources Ltd. (TSE:ARX) Receives C$32.29 Average Price Target from Brokerages

ARC Resources Ltd. (TSE:ARX) has earned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two research 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$32.13.

ARX has been the subject of a number of recent research reports. MKM Partners set a C$34.00 target price on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. CIBC lowered their price objective on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Scotiabank dropped their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a report on Wednesday, January 21st. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th.

ARC Resources Price Performance

ARX opened at C$25.21 on Friday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The stock has a market capitalization of C$14.66 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The company’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 one year low of C$22.63 and a one year high of C$31.56.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share 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%. Sell-side analysts anticipate 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.