ARC Resources - ARX Stock Forecast, Price & News

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. ATB Capital increased their target price on ARC Resources from C$22.00 to C$23.00 and gave the company an "average" rating in a research note on Wednesday, August 3rd. Raymond James set a C$22.00 price objective on shares of ARC Resources and gave the stock an "outperform" rating in a research note on Friday, May 6th. Cormark boosted their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, July 29th. CIBC dropped their target price on shares of ARC Resources from C$28.00 to C$25.00 in a research report on Wednesday, July 13th. Finally, BMO Capital Markets upped their price objective on shares of ARC Resources from C$20.00 to C$22.00 in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$22.15.

ARC Resources Stock Performance

TSE:ARX traded down C$0.13 on Friday, reaching C$18.00. 1,940,675 shares of the company's stock were exchanged, compared to its average volume of 4,608,845. The company has a debt-to-equity ratio of 34.97, a current ratio of 0.44 and a quick ratio of 0.41. The firm has a market cap of C$11.95 billion and a price-to-earnings ratio of 8.33. ARC Resources has a 52 week low of C$7.51 and a 52 week high of C$22.88. The stock has a fifty day simple moving average of C$17.13 and a 200-day simple moving average of C$16.74.

ARC Resources (TSE:ARX - Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported C$1.13 EPS for the quarter, beating the consensus estimate of C$0.86 by C$0.27. The firm had revenue of C$2.37 billion for the quarter. As a group, sell-side analysts predict that ARC Resources will post 3.008347 earnings per share for the current year.

Insider Transactions at ARC Resources

In related news, Senior Officer Larissa Marianne Conrad sold 9,354 shares of the company's stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of C$20.02, for a total transaction of C$187,274.56. In other ARC Resources news, Senior Officer Terry Michael Anderson sold 63,341 shares of the company's stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of C$19.61, for a total value of C$1,241,806.64. Also, Senior Officer Larissa Marianne Conrad sold 9,354 shares of the company's stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of C$20.02, for a total transaction of C$187,274.56. In the last ninety days, insiders sold 110,893 shares of company stock worth $2,228,663.