ARC Resources (TSE:ARX) PT Raised to C$26.00 at CIBC

Posted by on Aug 6th, 2023

ARC Resources (TSE:ARX – Get Free Report) had its target price lifted by stock analysts at CIBC from C$25.50 to C$26.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. CIBC’s price objective would suggest a potential upside of 28.46% from the stock’s previous close.

A number of other equities analysts have also commented on ARX. National Bankshares raised their price target on ARC Resources from C$18.50 to C$23.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Veritas Investment Research reaffirmed a “buy” rating on shares of ARC Resources in a report on Thursday, July 6th. Raymond James raised their price target on ARC Resources from C$20.00 to C$21.00 in a report on Friday, July 14th. Stifel Nicolaus raised their price target on ARC Resources from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets lowered ARC Resources from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$19.00 to C$20.00 in a report on Thursday, July 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$23.18.

ARC Resources Stock Performance

TSE:ARX opened at C$20.24 on Friday. The company has a debt-to-equity ratio of 27.82, a current ratio of 0.73 and a quick ratio of 0.42. The business has a fifty day simple moving average of C$18.15 and a two-hundred day simple moving average of C$16.73. ARC Resources has a 1 year low of C$14.34 and a 1 year high of C$20.49. The company has a market capitalization of C$12.37 billion, a P/E ratio of 4.50, a P/E/G ratio of 0.29 and a beta of 1.55.

ARC Resources (TSE:ARX – Get Free Report) last released its earnings results on Thursday, May 4th. The oil and gas exploration company reported C$0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.62 by C$0.31. ARC Resources had a return on equity of 37.72% and a net margin of 29.19%. The business had revenue of C$1.65 billion during the quarter. On average, analysts expect that ARC Resources will post 2.3264368 earnings per share for the current year.

About ARC Resources

(Get Free Report)

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.

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