ARC Resources (TSE:ARX) Price Target Lowered to C$28.00 at National Bankshares

ARC Resources (TSE:ARX) had its target price lowered by research analysts at National Bankshares from C$29.00 to C$28.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. National Bankshares’ target price would suggest a potential upside of 11.60% from the company’s previous close.

ARX has been the topic of a number of other research reports. MKM Partners set a C$34.00 target price on ARC Resources and gave the company a “buy” rating in a report on Friday, December 19th. Jefferies Financial Group lowered their target price on ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. UBS Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, CIBC dropped their target price on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$32.13.

ARC Resources Stock Up 0.8%

TSE:ARX traded up C$0.19 on Tuesday, reaching C$25.09. The stock had a trading volume of 1,006,508 shares, compared to its average volume of 3,896,336. ARC Resources has a 12-month low of C$22.63 and a 12-month high of C$31.56. The company has a 50-day moving average of C$25.15 and a 200 day moving average of C$25.65. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The stock has a market cap of C$14.59 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 0.29 and a beta of -0.23.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%.The business had revenue of C$1.38 billion for the quarter. On average, research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current 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.