ARC Resources (TSE:ARX) had its target price dropped by research analysts at BMO Capital Markets from C$12.00 to C$10.00 in a report released on Friday, BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 50.60% from the stock’s current price.
Other analysts have also recently issued reports about the stock. CIBC decreased their price target on shares of ARC Resources from C$17.00 to C$16.00 in a research note on Wednesday, May 1st. National Bank Financial increased their price target on shares of ARC Resources from C$11.00 to C$12.00 in a research note on Monday, April 8th. Tudor Pickering & Holt reissued a “hold” rating on shares of ARC Resources in a research note on Friday, June 7th. Finally, Raymond James raised their price objective on shares of ARC Resources from C$16.00 to C$16.25 and gave the company a “strong-buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. ARC Resources has a consensus rating of “Buy” and a consensus target price of C$13.86.
Shares of ARX traded down C$0.14 during mid-day trading on Friday, hitting C$6.64. 704,910 shares of the company traded hands, compared to its average volume of 2,297,962. ARC Resources has a one year low of C$6.56 and a one year high of C$15.90. The company has a debt-to-equity ratio of 26.10, a current ratio of 1.38 and a quick ratio of 0.95. The stock has a market capitalization of $2.40 billion and a P/E ratio of 22.90.
ARC Resources (TSE:ARX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.25). The firm had revenue of C$329.30 million for the quarter, compared to analyst estimates of C$339.30 million. As a group, analysts anticipate that ARC Resources will post 0.46 EPS for the current year.
About ARC Resources
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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