BMO Capital Markets Cuts ARC Resources (TSE:ARX) Price Target to C$28.00

ARC Resources (TSE:ARX) had its price objective decreased by BMO Capital Markets from C$33.00 to C$28.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the oil and gas exploration company’s stock.

ARX has been the subject of a number of other reports. Canadian Imperial Bank of Commerce cut their price target on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. Jefferies Financial Group dropped their price objective on shares of ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. Cibc Captl Mkts cut shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, CIBC World Markets downgraded ARC Resources from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from C$27.50 to C$25.50 in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$29.21.

ARC Resources Trading Up 2.9%

TSE:ARX opened at C$24.20 on Monday. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company’s 50 day moving average is C$25.05 and its 200-day moving average is C$25.54. The firm has a market cap of C$13.81 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.29 and a beta of 0.00. ARC Resources has a 12 month low of C$21.14 and a 12 month high of C$31.56.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The firm had revenue of C$1.58 billion during the quarter. Equities analysts anticipate that ARC Resources will post 2.7255139 EPS for the current 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.