ARC Resources (TSE:ARX) Price Target Lowered to C$33.00 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 price objective cut by investment analysts at Raymond James Financial from C$35.00 to C$33.00 in a research note issued 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 indicates a potential upside of 36.08% from the company's previous close.

Other analysts also recently issued reports about the company. National Bankshares lifted their price target on ARC Resources from C$33.00 to C$35.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Desjardins boosted their price target on ARC Resources from C$34.50 to C$35.50 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada increased their price target on ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. ATB Capital increased their target price on ARC Resources from C$31.00 to C$33.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets increased their price target on ARC Resources from C$32.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$33.33.

ARC Resources Stock Down 0.2%

ARX stock traded down C$0.04 during mid-day trading on Monday, reaching C$24.25. The company had a trading volume of 2,355,240 shares, compared to its average volume of 1,958,097. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The company has a market capitalization of C$14.10 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.29 and a beta of 0.29. The firm has a fifty day simple moving average of C$26.77 and a 200 day simple moving average of C$27.38. ARC Resources has a fifty-two week low of C$21.68 and a fifty-two week high of C$31.56.

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.

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