ARC Resources (TSE:ARX) PT Raised to C$22.00 at Scotiabank

ARC Resources (TSE:ARX) had its target price lifted by investment analysts at Scotiabank from C$19.00 to C$22.00 in a note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 81.97% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. CIBC raised their target price on shares of ARC Resources from C$12.00 to C$14.00 and gave the company a “na” rating in a research note on Wednesday, July 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of ARC Resources in a research report on Wednesday, September 29th. National Bank Financial reduced their price objective on shares of ARC Resources to C$13.50 and set a “na” rating for the company in a research report on Monday, July 19th. Tudor Pickering lifted their price objective on shares of ARC Resources to C$15.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Finally, Raymond James reissued an “outperform” rating and issued a C$14.00 target price on shares of ARC Resources in a research report on Tuesday, August 3rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$13.81.

Shares of TSE ARX traded up C$0.27 during midday trading on Thursday, reaching C$12.09. The company’s stock had a trading volume of 2,113,533 shares, compared to its average volume of 3,181,092. The company has a current ratio of 0.38, a quick ratio of 0.34 and a debt-to-equity ratio of 51.17. ARC Resources has a fifty-two week low of C$5.68 and a fifty-two week high of C$12.67. The stock has a market capitalization of C$8.76 billion and a price-to-earnings ratio of 50.63. The stock has a 50 day simple moving average of C$9.82 and a 200-day simple moving average of C$9.31.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, July 29th. The oil and gas exploration company reported C($0.15) earnings per share for the quarter, missing the consensus estimate of C$0.31 by C($0.46). The company had revenue of C$1.23 billion for the quarter. As a group, equities analysts anticipate that ARC Resources will post 1.5599999 EPS for the current year.

ARC Resources Company Profile

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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