ARC Resources (TSE:ARX) Given New C$32.00 Price Target at Royal Bank Of Canada

ARC Resources (TSE:ARX) had its price objective hoisted by Royal Bank Of Canada from C$28.00 to C$32.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently issued reports on ARX. Raymond James Financial upped their target price on ARC Resources from C$29.00 to C$32.80 in a research report on Tuesday, April 28th. Scotiabank upgraded ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. BMO Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$30.00 to C$32.00 in a report on Tuesday, April 28th. Jefferies Financial Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce cut shares of ARC Resources from a “neutral” rating to a “tender” rating and increased their target price for the stock from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$30.35.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$31.51 on Wednesday. The company has a market capitalization of C$17.85 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.29 and a beta of -0.36. The company has a debt-to-equity ratio of 43.61, a current ratio of 0.87 and a quick ratio of 0.42. ARC Resources has a one year low of C$21.14 and a one year high of C$32.58. The business’s 50-day moving average price is C$30.95 and its two-hundred day moving average price is C$27.85.

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