ARC Resources (TSE:ARX) Announces Earnings Results

ARC Resources (TSE:ARX) released its earnings results on Thursday. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter, reports. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%.

ARC Resources Stock Down 3.8%

Shares of ARX stock traded down C$1.01 during trading hours on Thursday, reaching C$25.40. The company had a trading volume of 3,755,216 shares, compared to its average volume of 3,959,160. The company has a market cap of C$14.77 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth 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 has a 12 month low of C$22.63 and a 12 month high of C$31.56. The business has a fifty day simple moving average of C$25.20 and a 200-day simple moving average of C$25.64.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group lowered their target price on ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Roth Mkm raised shares of ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th. MKM Partners set a C$34.00 price target on shares of ARC Resources and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, National Bankshares dropped their price objective on shares of ARC Resources from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ARC Resources has a consensus rating of “Buy” and an average target price of C$32.13.

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.