ARC Resources (TSE:ARX) Trading Down 3.8% – Here’s What Happened

ARC Resources Ltd. (TSE:ARX)’s stock price traded down 3.8% during mid-day trading on Friday . The stock traded as low as C$25.38 and last traded at C$25.40. 3,755,216 shares traded hands during trading, a decline of 5% from the average session volume of 3,959,160 shares. The stock had previously closed at C$26.41.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARX shares. Scotiabank dropped their price target on shares of ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 21st. Jefferies Financial Group cut their price target on shares of ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. UBS Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. MKM Partners set a C$34.00 target price on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Capital One Financial raised ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, ARC Resources presently has an average rating of “Buy” and a consensus price target of C$32.13.

ARC Resources Stock Down 13.1%

The company has a market capitalization of C$12.84 billion, a PE ratio of 9.39, a P/E/G ratio of 0.29 and a beta of 0.00. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The firm has a 50 day simple moving average of C$25.22 and a two-hundred day simple moving average of C$25.64.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. Research analysts expect that ARC Resources Ltd. will post 2.7255139 EPS 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.