ARC Resources (TSE:ARX) Given a C$34.00 Price Target by MKM Partners Analysts

ARC Resources (TSE:ARX) has been assigned a C$34.00 price objective by analysts at MKM Partners in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. MKM Partners’ price objective would suggest a potential upside of 34.92% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on ARX. Raymond James Financial decreased their price target on shares of 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. Scotiabank lowered shares of ARC Resources from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$36.00 to C$30.00 in a research report on Friday, November 7th. CIBC lowered their target price on shares of ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Jefferies Financial Group cut their price target on shares of ARC Resources from C$30.00 to C$28.00 in a research note on Monday, November 10th. Finally, National Bankshares decreased their price objective on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. One analyst has 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 data from MarketBeat.com, ARC Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$32.54.

ARC Resources Stock Performance

Shares of ARC Resources stock traded up C$0.38 during trading on Friday, reaching C$25.20. The company’s stock had a trading volume of 677,750 shares, compared to its average volume of 2,371,512. ARC Resources has a one year low of C$22.63 and a one year high of C$31.56. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The firm has a market cap of C$14.51 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.29 and a beta of -0.05. The business’s fifty day moving average price is C$25.38 and its 200-day moving average price is C$26.62.

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