ARC Resources (TSE:ARX) Price Target Cut to C$30.00

ARC Resources (TSE:ARX) had its target price lowered by stock analysts at TD Securities from C$31.00 to C$30.00 in a note issued to investors on Tuesday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 27.12% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Desjardins increased their target price on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group lowered their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Cormark raised ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, ATB Capital increased their target price on ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Buy” and a consensus price target of C$30.39.

ARC Resources Stock Performance

ARC Resources stock traded up C$0.74 during midday trading on Tuesday, reaching C$23.60. The stock had a trading volume of 1,541,884 shares, compared to its average volume of 2,016,747. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The firm’s 50-day moving average price is C$23.77 and its 200 day moving average price is C$24.39. The firm has a market capitalization of C$14.07 billion, a PE ratio of 12.23, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share for the quarter. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. The company had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. As a group, research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Company Profile

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.