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ARC Resources (TSE:ARX) Price Target Raised to C$32.80

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Key Points

  • Raymond James raised its price target on ARC Resources from C$29.00 to C$32.80, implying about a 3.93% upside; analysts' consensus remains a "Moderate Buy" with an average target of C$29.98 amid mixed broker actions.
  • Reports say Shell agreed to acquire ARC for roughly US$16.4B (≈C$22B), sending ARC shares sharply higher, but the deal is subject to regulatory approval, closing conditions and integration risks that could alter the payout or timeline.
  • MarketBeat previews top five stocks to own in May.

ARC Resources (TSE:ARX - Get Free Report) had its price target upped by investment analysts at Raymond James Financial from C$29.00 to C$32.80 in a report issued on Tuesday,BayStreet.CA reports. Raymond James Financial's price target points to a potential upside of 3.93% from the stock's current price.

A number of other brokerages have also recently issued reports on ARX. Desjardins cut their price objective on shares of ARC Resources from C$31.00 to C$27.00 and set a "buy" rating for the company in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce lowered ARC Resources from a "neutral" rating to a "tender" rating and increased their price objective for the company from C$29.00 to C$32.00 in a research note on Tuesday. National Bank Financial cut shares of ARC Resources from an "outperform" rating to a "hold" rating and decreased their price objective for the company from C$27.00 to C$26.00 in a research report on Friday, February 6th. Scotiabank upgraded shares of ARC Resources to a "hold" rating in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group dropped their price objective on ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, ARC Resources presently has a consensus rating of "Moderate Buy" and an average price target of C$29.98.

Get Our Latest Stock Analysis on ARC Resources

ARC Resources Stock Up 1.1%

TSE ARX traded up C$0.34 during mid-day trading on Tuesday, hitting C$31.56. The company's stock had a trading volume of 11,722,362 shares, compared to its average volume of 5,020,665. The company's 50 day simple moving average is C$26.74 and its 200 day simple moving average is C$25.67. The firm has a market capitalization of C$18.36 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.29 and a beta of -0.30. The company has a current ratio of 0.70, a quick ratio of 0.42 and a debt-to-equity ratio of 58.50. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$31.99.

ARC Resources (TSE:ARX - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%.The company had revenue of C$1.58 billion during the quarter. Analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources News Roundup

Here are the key news stories impacting ARC Resources this week:

About ARC Resources

(Get Free Report)

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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Analyst Recommendations for ARC Resources (TSE:ARX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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