ARC Resources (TSE:ARX) Stock Price Down 3.8% – Should You Sell?

Shares of ARC Resources Ltd. (TSE:ARX) fell 3.8% during mid-day trading on Friday . The company traded as low as C$25.38 and last traded at C$25.40. 3,755,216 shares traded hands during trading, a decline of 5% from the average session volume of 3,959,160 shares. The stock had previously closed at C$26.41.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARX. CIBC reduced their target price on ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Scotiabank dropped their target price on shares of ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. UBS Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, MKM Partners set a C$34.00 target price on ARC Resources and gave the company a “buy” rating in a research report on Friday, December 19th. Two equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$32.13.

ARC Resources Trading Down 13.1%

The company’s 50 day moving average price is C$25.22 and its 200 day moving average price is C$25.64. The firm has a market cap of C$12.84 billion, a PE ratio of 9.39, 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 (TSE:ARX) last announced its quarterly earnings data 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 return on equity of 14.60% and a net margin of 20.95%. As a group, analysts forecast that ARC Resources Ltd. will post 2.7255139 EPS for the current fiscal year.

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.