Analysts Set ARC Resources Ltd. (TSE:ARX) Target Price at C$29.00

Shares of ARC Resources Ltd. (TSE:ARX) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$29.00.

Several analysts recently weighed in on the company. MKM Partners set a C$34.00 price objective on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Roth Mkm raised shares of ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Royal Bank Of Canada reduced their price target on shares of ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce cut shares of ARC Resources from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$27.50 to C$25.50 in a research report on Monday, February 9th. Finally, Desjardins dropped their price objective on shares of ARC Resources from C$31.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, February 9th.

ARC Resources Stock Performance

TSE ARX opened at C$25.30 on Thursday. The firm’s 50 day simple moving average is C$24.74 and its 200 day simple moving average is C$25.31. The firm has a market capitalization of C$14.44 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 0.29 and a beta of 0.00. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. ARC Resources has a 1 year low of C$21.14 and a 1 year high of C$31.56.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. The firm had revenue of C$1.58 billion during the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. As a group, research analysts expect that ARC Resources will post 2.7255139 earnings per share 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.