National Bankshares Cuts ARC Resources (TSE:ARX) Price Target to C$31.00

ARC Resources (TSE:ARX) had its price objective dropped by stock analysts at National Bankshares from C$32.00 to C$31.00 in a research report issued on Friday, BayStreet.CA reports. National Bankshares’ price target indicates a potential upside of 38.45% from the stock’s current price.

ARX has been the subject of several other research reports. UBS Group dropped their price target on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Scotiabank upped their price target on ARC Resources from C$33.00 to C$34.00 in a report on Friday, July 12th. Canaccord Genuity Group boosted their price objective on ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. ATB Capital upped their target price on shares of ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. Finally, Jefferies Financial Group decreased their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$30.32.

ARC Resources Trading Up 2.8 %

Shares of ARX traded up C$0.61 during midday trading on Friday, hitting C$22.39. 977,902 shares of the stock were exchanged, compared to its average volume of 2,000,319. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$26.45. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The stock has a fifty day simple moving average of C$23.79 and a 200 day simple moving average of C$24.40. The firm has a market cap of C$13.35 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The company had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. On average, research analysts anticipate that ARC Resources will post 3.2027972 EPS for the current fiscal year.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.