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

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

ARX has been the topic of several other research reports. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. National Bankshares decreased their price objective on shares of ARC Resources from C$32.00 to C$31.00 in a report on Friday. Scotiabank upped their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Jefferies Financial Group dropped their price objective 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. Finally, Canaccord Genuity Group increased their price objective on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARC Resources currently has a consensus rating of “Buy” and a consensus price target of C$30.39.

ARC Resources Stock Up 3.2 %

ARC Resources stock traded up C$0.74 during midday trading on Tuesday, hitting C$23.60. 1,541,884 shares of the stock were exchanged, compared to its average volume of 2,016,747. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.45. The firm has a market cap of C$14.07 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company has a 50 day moving average price of C$23.77 and a two-hundred day moving average price of C$24.39.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The firm had revenue of C$1.15 billion during the quarter, compared to analyst estimates of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. On average, sell-side analysts predict that ARC Resources will post 2.7255139 earnings per share 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.