National Bankshares Downgrades ARC Resources (TSE:ARX) to Sector Perform

ARC Resources (TSE:ARX) was downgraded by equities researchers at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$26.00 price target on the oil and gas exploration company’s stock, down from their previous price target of C$27.00. National Bankshares’ price target would suggest a potential upside of 15.15% from the company’s previous close.

A number of other equities analysts also recently commented on ARX. CIBC dropped their price objective on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Scotiabank dropped their price target 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 note on Wednesday, January 21st. UBS Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Finally, Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$31.96.

ARC Resources Trading Down 11.1%

Shares of TSE:ARX traded down C$2.82 during midday trading on Friday, reaching C$22.58. The company had a trading volume of 14,189,720 shares, compared to its average volume of 4,327,868. 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$21.14 and a 1-year high of C$31.56. The firm has a market cap of C$13.13 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The company has a fifty day simple moving average of C$25.22 and a two-hundred day simple moving average of C$25.64.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. Research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current 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.