ARC Resources Ltd. (TSE:ARX) Given Average Recommendation of “Buy” by Analysts

ARC Resources Ltd. (TSE:ARX) has received an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$32.54.

Several equities research analysts have commented on the stock. National Bankshares increased 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 note on Thursday, January 30th. UBS Group reduced their price objective on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. Raymond James decreased their price target on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. Desjardins raised their target price on ARC Resources from C$33.50 to C$34.50 and gave the stock a “buy” rating in a research report on Monday. Finally, CIBC lowered their target price on ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th.

ARC Resources Stock Performance

TSE ARX opened at C$25.95 on Friday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The company has a fifty day moving average price of C$26.48 and a 200-day moving average price of C$25.84. ARC Resources has a 1 year low of C$21.44 and a 1 year high of C$29.90. The firm has a market cap of C$15.27 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.29 and a beta of 1.26.

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.