Jefferies Financial Group Lowers ARC Resources (TSE:ARX) Price Target to C$28.00

ARC Resources (TSE:ARX) had its price objective cut by equities research analysts at Jefferies Financial Group from C$30.00 to C$28.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would indicate a potential upside of 13.96% from the stock’s current price.

A number of other brokerages have also weighed in on ARX. Capital One Financial raised ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. Raymond James Financial cut their price objective on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. National Bankshares reduced their target price on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a report on Friday. CIBC decreased their target price on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Finally, Scotiabank downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and cut their price target for the company from C$36.00 to C$30.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$32.41.

ARC Resources Stock Performance

Shares of TSE ARX traded up C$0.68 during mid-day trading on Monday, hitting C$24.57. 3,050,299 shares of the company were exchanged, compared to its average volume of 2,238,343. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The stock has a 50 day simple moving average of C$25.53 and a 200-day simple moving average of C$27.10. ARC Resources has a 1-year low of C$22.63 and a 1-year high of C$31.56. The firm has a market cap of C$14.29 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.29 and a beta of -0.01.

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.