ARC Resources (TSE:ARX) Given New C$28.00 Price Target at Royal Bank Of Canada

ARC Resources (TSE:ARX) had its price target cut by equities research analysts at Royal Bank Of Canada from C$32.00 to C$28.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the oil and gas exploration company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 20.90% from the company’s previous close.

Other research analysts have also issued research reports about the company. Capital One Financial raised ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. Desjardins reduced their price objective on shares of ARC Resources from C$31.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday. National Bankshares downgraded shares of ARC Resources from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$27.00 to C$26.00 in a report on Friday. Natl Bk Canada downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Cibc Captl Mkts cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$29.21.

ARC Resources Stock Performance

ARC Resources stock traded up C$0.33 during mid-day trading on Monday, reaching C$23.16. 4,305,571 shares of the company were exchanged, compared to its average volume of 4,543,331. The firm’s 50-day simple moving average is C$25.18 and its two-hundred day simple moving average is C$25.60. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$31.56. The firm has a market cap of C$13.33 billion, a PE ratio of 9.86, 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 quick ratio of 0.42 and a current ratio of 1.14.

ARC Resources (TSE:ARX) last released 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%. Equities analysts predict that ARC Resources will post 2.7255139 earnings per share 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.