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

ARC Resources (TSE:ARX) had its target price lowered by Jefferies Financial Group from C$28.00 to C$27.00 in a report issued on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential upside of 5.76% from the company’s current price.

A number of other equities analysts have also commented on ARX. MKM Partners set a C$34.00 target price on shares of ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Roth Mkm upgraded ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Scotiabank downgraded ARC Resources from an “outperform” rating to a “hold” rating and dropped their price target for the stock from C$36.00 to C$30.00 in a research report on Friday, November 7th. Finally, National Bankshares decreased their price objective on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$32.29.

ARC Resources Stock Performance

ARX stock opened at C$25.53 on Tuesday. ARC Resources has a twelve month low of C$22.63 and a twelve month high of C$31.56. The firm has a market cap of C$14.70 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.29 and a beta of -0.23. The business’s fifty day simple moving average is C$25.10 and its two-hundred day simple moving average is C$25.79. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

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