ARC Resources (TSE:ARX) Issues Quarterly Earnings Results

ARC Resources (TSE:ARX) announced its earnings results on Thursday. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$2.16 billion for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.

ARC Resources Stock Performance

Shares of TSE ARX traded up C$0.44 during midday trading on Thursday, reaching C$32.98. 2,913,835 shares of the stock were exchanged, compared to its average volume of 4,721,830. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61. The firm has a 50-day simple moving average of C$31.20 and a two-hundred day simple moving average of C$28.35. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$33.16. The firm has a market cap of C$18.68 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.29 and a beta of -0.36.

Analyst Ratings Changes

ARX has been the topic of several research analyst reports. BMO Capital Markets downgraded shares of ARC Resources from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 target price for the company. in a research note on Tuesday, April 28th. Canadian Imperial Bank of Commerce cut ARC Resources from a “neutral” rating to a “tender” rating and lifted their price target for the stock from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Royal Bank Of Canada boosted their price target on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, TD Securities downgraded ARC Resources from a “strong-buy” rating to a “strong sell” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ARC Resources has a consensus rating of “Hold” and an average price target of C$30.35.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.