ARC Resources (TSE:ARX) PT Set at C$34.00 by MKM Partners

ARC Resources (TSE:ARX) has been given a C$34.00 price target by stock analysts at MKM Partners in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. MKM Partners’ price target would indicate a potential upside of 36.00% from the company’s previous close.

ARX has been the subject of a number of other reports. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. Jefferies Financial Group lowered their price objective on shares of ARC Resources from C$30.00 to C$28.00 in a research report on Monday, November 10th. CIBC cut their target price on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Finally, National Bankshares decreased their target price on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Two equities research analysts have 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 “Buy” and an average target price of C$32.54.

ARC Resources Stock Up 0.7%

ARX stock opened at C$25.00 on Friday. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56. The company has a market capitalization of C$14.39 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 0.29 and a beta of -0.05. The stock has a fifty day moving average of C$25.36 and a 200-day moving average of C$26.57.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share (EPS) for the quarter. The firm had revenue of C$1.38 billion during the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. 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.