ARC Resources (TSE:ARX) Price Target Raised to C$39.00

ARC Resources (TSE:ARX) had its price objective hoisted by UBS Group from C$37.00 to C$39.00 in a research report report published on Wednesday,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on ARX. CIBC raised their price objective on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. TD Securities increased their price target on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. National Bankshares raised their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Finally, BMO Capital Markets lifted their price target on ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$32.79.

ARC Resources Stock Performance

ARX stock opened at C$28.62 on Wednesday. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$29.05. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The stock has a 50-day moving average price of C$26.45 and a 200-day moving average price of C$25.32. The firm has a market cap of C$16.84 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

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.