ARC Resources (TSE:ARX) Price Target Cut to C$30.00

ARC Resources (TSE:ARX) had its price target lowered by investment analysts at TD Securities from C$31.00 to C$30.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. TD Securities’ price target points to a potential upside of 27.12% from the stock’s current price.

Several other brokerages also recently weighed in on ARX. Jefferies Financial Group decreased their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, September 16th. ATB Capital raised their price target on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. UBS Group cut their price objective on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Canaccord Genuity Group boosted their price objective on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Desjardins increased their target price on ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$30.39.

ARC Resources Trading Down 0.2 %

Shares of ARX opened at C$23.60 on Tuesday. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. The firm has a market capitalization of C$14.07 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The stock’s fifty day simple moving average is C$23.76 and its 200 day simple moving average is C$24.39.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. The company had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. On average, equities research analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.