Scotiabank Lowers ARC Resources (TSE:ARX) Price Target to C$36.00

Key Points

• Scotiabank has lowered its price target for ARC Resources from C$38.00 to C$36.00, indicating a potential upside of 35.90% based on the company's previous close.
• Other analysts have mixed views, with BMO Capital Markets raising its target price to C$33.00 while Raymond James Financial decreased their target to C$33.00, maintaining an "outperform" rating.
• ARC Resources stock has seen a slight decline of 0.7%, trading at C$26.49, with an average analyst rating of "Buy" and a current average price target of C$33.42.

ARC Resources (TSE:ARX - Get Free Report) had its price target lowered by stock analysts at Scotiabank from C$38.00 to C$36.00 in a report issued on Thursday,BayStreet.CA reports. Scotiabank's price target suggests a potential upside of 35.90% from the company's previous close.

A number of other research analysts also recently weighed in on the stock. BMO Capital Markets raised their target price on shares of ARC Resources from C$32.00 to C$33.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Raymond James Financial decreased their target price on shares of ARC Resources from C$35.00 to C$33.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$33.42.

ARC Resources Stock Down 0.7%

Shares of ARX stock traded down C$0.20 during trading hours on Thursday, hitting C$26.49. 1,079,122 shares of the company were exchanged, compared to its average volume of 2,148,424. The business has a 50 day moving average of C$26.15 and a two-hundred day moving average of C$27.29. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. ARC Resources has a 52 week low of C$22.50 and a 52 week high of C$31.56. The company has a market capitalization of C$15.41 billion, a PE ratio of 10.47, a PEG ratio of 0.29 and a beta of 0.13.

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.

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