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

ARC Resources Ltd. (TSE:ARX) has been given an average rating of “Buy” by the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$32.29.

A number of analysts recently weighed in on the stock. MKM Partners set a C$34.00 price objective on shares of ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Roth Mkm raised ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. CIBC cut their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Scotiabank dropped their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. 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 report on Friday, November 7th.

ARC Resources Stock Performance

TSE:ARX opened at C$25.27 on Friday. The firm has a market capitalization of C$14.70 billion, a PE ratio of 10.75, a PEG ratio of 0.29 and a beta of -0.23. The stock’s fifty day moving average is C$25.16 and its 200 day moving average is C$25.67. 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 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 posted its quarterly earnings data on Thursday, November 6th. The oil and gas exploration company reported C$0.37 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 during the quarter. On average, sell-side analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current 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.