ARC Resources (TSE:ARX) Posts Earnings Results

ARC Resources (TSE:ARX) issued 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 Price Performance

ARC Resources stock opened at C$25.40 on Friday. The stock has a market capitalization of C$14.77 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.29 and a beta of 0.00. The company’s fifty day moving average price is C$25.22 and its 200 day moving average price is C$25.64. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a 1 year low of C$22.63 and a 1 year high of C$31.56.

Analyst Ratings Changes

ARX has been the subject of several analyst reports. National Bankshares decreased their price objective on ARC Resources from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Tuesday. Scotiabank reduced their price target on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. CIBC lowered their price objective on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. MKM Partners set a C$34.00 price objective on shares of ARC Resources and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, UBS Group cut shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, 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.