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

ARC Resources Ltd. (TSE:ARX) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$33.17.

Several equities research analysts have recently issued reports on the stock. National Bankshares raised their price target on shares of ARC Resources from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Royal Bank of Canada raised their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. TD Securities raised their price target on shares of 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. UBS Group decreased their price target on shares of ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. Finally, 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.

ARC Resources Trading Down 1.9%

Shares of ARX stock opened at C$28.59 on Tuesday. The company has a 50 day moving average of C$27.26 and a 200-day moving average of C$26.48. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 12-month low of C$21.44 and a 12-month high of C$30.17. The firm has a market cap of C$16.83 billion, a P/E ratio of 15.08, 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.