National Bankshares Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price objective cut by analysts at National Bankshares from C$29.00 to C$28.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the oil and gas exploration company’s stock. National Bankshares’ price objective would indicate a potential upside of 6.02% from the company’s previous close.

ARX has been the subject of a number of other research reports. Scotiabank lowered their price target on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. MKM Partners set a C$34.00 target price on ARC Resources and gave the stock a “buy” rating in a report on Friday, December 19th. Roth Mkm upgraded shares of ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Jefferies Financial Group reduced their price target on shares of ARC Resources from C$28.00 to C$27.00 in a research report on Tuesday, January 20th. Finally, CIBC dropped their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Two 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 MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$32.13.

ARC Resources Trading Up 4.8%

Shares of ARC Resources stock opened at C$26.41 on Tuesday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. ARC Resources has a 1 year low of C$22.63 and a 1 year high of C$31.56. The company has a market capitalization of C$15.36 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.29 and a beta of 0.00. The business has a 50 day moving average price of C$25.20 and a 200 day moving average price of C$25.64.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%.The firm had revenue of C$1.38 billion for the quarter. Sell-side analysts anticipate that ARC Resources will post 2.7255139 EPS for the current fiscal 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.