ARC Resources (TSE:ARX) Downgraded to “Sector Perform” Rating by National Bankshares

ARC Resources (TSE:ARX) was downgraded by National Bankshares from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$26.00 price target on the oil and gas exploration company’s stock, down from their previous price target of C$27.00. National Bankshares’ price objective would indicate a potential upside of 15.15% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group decreased their target price on ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. UBS Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Scotiabank cut their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 21st. Finally, CIBC decreased their target price on shares of ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$31.96.

ARC Resources Stock Performance

TSE ARX traded down C$2.82 during trading hours on Friday, hitting C$22.58. The company’s stock had a trading volume of 14,189,720 shares, compared to its average volume of 4,327,868. ARC Resources has a 12 month low of C$21.14 and a 12 month high of C$31.56. The company’s 50 day simple moving average is C$25.22 and its two-hundred day simple moving average is C$25.64. The company has a market cap of C$13.13 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. 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 (TSE:ARX) last posted its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. As a group, sell-side analysts expect 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.