ARC Resources Ltd. (TSE:ARX) Given Consensus Rating of “Buy” by Analysts

ARC Resources Ltd. (TSE:ARX) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$32.54.

ARX has been the topic of several recent research reports. Roth Capital upgraded shares of ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. Scotiabank downgraded ARC Resources from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$36.00 to C$30.00 in a research report on Friday, November 7th. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. MKM Partners set a C$34.00 target price on ARC Resources and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, National Bankshares decreased their price target 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.

ARC Resources Trading Down 2.7%

Shares of ARX opened at C$24.47 on Wednesday. The company’s fifty day moving average is C$25.40 and its 200 day moving average is C$26.16. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56. The stock has a market capitalization of C$14.09 billion, a PE ratio of 10.41, a P/E/G ratio of 0.29 and a beta of -0.23. 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 (TSE:ARX) last released 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. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The company had revenue of C$1.38 billion for the quarter. Sell-side analysts expect that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Company Profile

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.