Brokerages Set ARC Resources Ltd. (TSE:ARX) Price Target at C$30.35

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average rating of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$30.35.

Several equities analysts have recently weighed in on ARX shares. Jefferies Financial Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on shares of ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th.

ARC Resources Trading Down 0.4%

ARX opened at C$33.43 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 39.16. The stock has a market capitalization of C$18.92 billion, a PE ratio of 13.53, a PEG ratio of 0.29 and a beta of -0.37. The firm has a 50-day moving average price of C$31.92 and a two-hundred day moving average price of C$29.56. ARC Resources has a 1-year low of C$21.14 and a 1-year high of C$34.22.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter. The company had revenue of C$2.16 billion for the quarter. ARC Resources had a net margin of 19.29% and a return on equity of 16.64%. As a group, equities analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Company Profile

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.