ARC Resources (TSE:ARX) Reaches New 52-Week High – Still a Buy?

ARC Resources Ltd. (TSE:ARX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$33.73 and last traded at C$33.68, with a volume of 144425 shares trading hands. The stock had previously closed at C$33.43.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ARX shares. TD Securities lowered ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, April 27th. BMO Capital Markets downgraded shares of ARC Resources from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$30.00 to C$32.00 in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their price target on shares of ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Canaccord Genuity Group downgraded ARC Resources from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$31.00 to C$32.00 in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$30.35.

ARC Resources Stock Up 0.3%

The company has a market cap of C$19.09 billion, a PE ratio of 13.66, a P/E/G ratio of 0.29 and a beta of -0.37. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 39.16. The business has a 50-day simple moving average of C$31.67 and a 200-day simple moving average of C$29.27.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 19.29% and a return on equity of 16.64%. The firm had revenue of C$2.16 billion for the quarter. Equities research analysts anticipate that ARC Resources Ltd. will post 2.7255139 EPS for the current year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.