ARC Resources Ltd. (TSE:ARX) Receives C$32.29 Average Price Target from Analysts

ARC Resources Ltd. (TSE:ARX) has been assigned an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$32.29.

A number of research analysts recently weighed in on ARX shares. National Bankshares raised their price objective on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. CIBC raised their target price on ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. UBS Group raised their target price on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. BMO Capital Markets raised their target price on ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. Finally, TD Securities raised their target price on ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, February 7th.

ARC Resources Stock Up 1.9 %

Shares of ARX stock opened at C$26.88 on Thursday. The stock’s 50 day simple moving average is C$26.25 and its 200 day simple moving average is C$25.16. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a twelve month low of C$21.44 and a twelve month high of C$28.15. The company has a market capitalization of C$15.82 billion, a price-to-earnings ratio of 14.18, a PEG 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.