ARC Resources (TSE:ARX) Given New C$27.00 Price Target at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price target dropped by stock analysts at Jefferies Financial Group from C$30.00 to C$27.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s target price points to a potential upside of 16.68% from the stock’s previous close.

A number of other research firms have also weighed in on ARX. Desjardins increased their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Canaccord Genuity Group boosted their target price on 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. Scotiabank raised their price target on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. ATB Capital boosted their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Finally, CIBC lifted their target price on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$30.46.

ARC Resources Trading Down 0.0 %

ARC Resources stock traded down C$0.01 during mid-day trading on Monday, hitting C$23.14. The company’s stock had a trading volume of 799,257 shares, compared to its average volume of 1,960,032. The business has a 50 day moving average price of C$24.06 and a 200-day moving average price of C$24.42. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The stock has a market cap of C$13.80 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth 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.

ARC Resources (TSE:ARX) last announced its quarterly earnings data 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 firm had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. As a group, analysts forecast that ARC Resources will post 3.1763869 EPS for the current 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.