Desjardins Cuts ARC Resources (TSE:ARX) Price Target to C$27.00

ARC Resources (TSE:ARX) had its target price reduced by Desjardins from C$31.00 to C$27.00 in a report published on Monday,BayStreet.CA reports. Desjardins currently has a buy rating on the oil and gas exploration company’s stock.

Other research analysts have also issued reports about the stock. Scotiabank dropped their price objective 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. CIBC World Markets cut ARC Resources from an “outperform” rating to a “neutral” rating and cut their price target for the stock from C$27.50 to C$25.50 in a research note on Monday. Raymond James Financial lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$31.00 to C$28.00 in a research report on Monday. Capital One Financial upgraded shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Roth Mkm raised ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$29.21.

ARC Resources Stock Up 2.9%

ARX opened at C$24.20 on Monday. The business’s 50-day simple moving average is C$25.05 and its 200-day simple moving average is C$25.54. The stock has a market capitalization of C$13.81 billion, a P/E ratio of 11.05, 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 quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a one year low of C$21.14 and a one year high of C$31.56.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. The company had revenue of C$1.58 billion for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. Analysts anticipate that ARC Resources will post 2.7255139 EPS 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.