ARC Resources Ltd. (TSE:ARX) Receives Consensus Recommendation of “Hold” from Analysts

ARC Resources Ltd. (TSE:ARX) has earned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$29.98.

ARX has been the topic of a number of recent research reports. TD Securities lowered shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a report on Monday, April 27th. Raymond James Financial boosted their target price on shares of ARC Resources from C$29.00 to C$32.80 in a report on Tuesday, April 28th. Canaccord Genuity Group lowered shares of ARC Resources from a “buy” rating to a “hold” rating and boosted their target price for the company from C$31.00 to C$32.00 in a report on Tuesday, April 28th. Jefferies Financial Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Capital One Financial lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$29.80 on Wednesday. The firm has a market cap of C$16.88 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34. The firm’s fifty day moving average is C$30.55 and its 200-day moving average is C$27.44. The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$32.58.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. The company had revenue of C$2.10 billion for the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. Sell-side 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.