ARC Resources (TSE:ARX) Given New C$33.00 Price Target at Raymond James Financial

Key Points

• ARC Resources' price target was lowered by Raymond James Financial from C$35.00 to C$33.00, indicating a potential upside of 36.08% from its previous close.
• Other analysts, including National Bankshares and Desjardins, have raised their price targets, with the consensus average target price now at C$33.33.
• The stock is currently trading at C$24.25, a decrease of 0.2%, with a market capitalization of C$14.10 billion and a price-to-earnings ratio of 9.58.

ARC Resources (TSE:ARX - Get Free Report) had its target price decreased by stock analysts at Raymond James Financial from C$35.00 to C$33.00 in a report released on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the oil and gas exploration company's stock. Raymond James Financial's price objective would indicate a potential upside of 33.23% from the company's current price.

A number of other equities research analysts have also recently issued reports on ARX. Royal Bank Of Canada upped their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. National Bankshares upped their price objective on shares of ARC Resources from C$33.00 to C$35.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. BMO Capital Markets upped their price objective on shares of ARC Resources from C$32.00 to C$33.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Desjardins upped their price objective on shares of ARC Resources from C$34.50 to C$35.50 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, ATB Capital upped their price objective on shares of ARC Resources from C$31.00 to C$33.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$33.33.

ARC Resources Stock Down 0.4%

Shares of ARC Resources stock traded down C$0.10 on Monday, hitting C$24.77. 9,832,800 shares of the company traded hands, compared to its average volume of 2,055,879. The company has a 50-day moving average price of C$26.47 and a 200 day moving average price of C$27.32. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 12-month low of C$21.68 and a 12-month high of C$31.56. The company has a market cap of C$14.41 billion, a PE ratio of 9.79, a PEG ratio of 0.29 and a beta of 0.29.

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.