ARC Resources (TSE:ARX) Price Target Lowered to C$27.00 at Jefferies Financial Group

ARC Resources (TSE:ARX) had its target price dropped by equities research analysts at Jefferies Financial Group from C$28.00 to C$27.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s target price points to a potential upside of 10.70% from the company’s previous close.

A number of other analysts also recently weighed in on ARX. CIBC cut their target price on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. MKM Partners set a C$34.00 price objective on shares of ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. 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 report on Friday, November 7th. Roth Capital upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. Finally, UBS Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$32.46.

ARC Resources Stock Performance

Shares of TSE:ARX traded up C$0.19 on Tuesday, reaching C$24.39. 2,124,871 shares of the company’s stock were exchanged, compared to its average volume of 3,948,334. ARC Resources has a twelve month low of C$22.63 and a twelve month high of C$31.56. The company has a fifty day moving average of C$25.06 and a 200-day moving average of C$25.82. The company has a market capitalization of C$14.04 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.29 and a beta of -0.23. 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 (TSE:ARX) last issued 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. The business 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%. On average, research analysts predict that ARC Resources will post 2.7255139 EPS for the current fiscal 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.