Jefferies Financial Group Issues Pessimistic Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price target reduced by analysts at Jefferies Financial Group from C$30.00 to C$28.00 in a report issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target indicates a potential upside of 13.96% from the company’s previous close.

Other analysts also recently issued reports about the company. Scotiabank downgraded ARC Resources from an “outperform” rating to a “hold” rating and dropped their price objective for the stock from C$36.00 to C$30.00 in a report on Friday. Capital One Financial raised ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. National Bankshares dropped their price target on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday. Raymond James Financial reduced their price objective on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, CIBC decreased their target price on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$32.41.

ARC Resources Trading Up 2.8%

ARX traded up C$0.68 during midday trading on Monday, hitting C$24.57. The company’s stock had a trading volume of 3,050,299 shares, compared to its average volume of 2,238,343. ARC Resources has a 52-week low of C$22.63 and a 52-week high of C$31.56. The firm has a 50-day moving average price of C$25.53 and a two-hundred day moving average price of C$27.10. The firm has a market cap of C$14.29 billion, a P/E ratio of 9.71, a PEG ratio of 0.29 and a beta of -0.01. 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 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.