ARC Resources (TSE:ARX) PT Lowered to C$31.00

ARC Resources (TSE:ARX) had its price target decreased by equities researchers at National Bankshares from C$32.00 to C$31.00 in a report issued on Friday, BayStreet.CA reports.

Several other research firms have also recently issued reports on ARX. Canaccord Genuity Group upped their price target on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Desjardins upped their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. ATB Capital lifted their price target on ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. Scotiabank boosted their price objective on ARC Resources from C$33.00 to C$34.00 in a report on Friday, July 12th. Finally, CIBC increased their target price on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources currently has an average rating of “Buy” and an average price target of C$30.32.

ARC Resources Stock Performance

The firm has a market capitalization of C$13.44 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The stock has a 50 day simple moving average of C$23.79 and a 200-day simple moving average of C$24.40.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$1.15 billion for the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. On average, equities research analysts predict that ARC Resources will post 3.2027972 EPS for the current year.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.