Analysts Set ARC Resources Ltd. (TSE:ARX) Target Price at C$32.79

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$32.58.

A number of equities research analysts have issued reports on ARX shares. National Bankshares upped their price objective on 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. TD Securities boosted their target price on ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, February 7th. UBS Group raised their price target on ARC Resources from C$37.00 to C$39.00 in a research report on Wednesday, March 26th. CIBC cut their price objective on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday. Finally, BMO Capital Markets increased their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th.

ARC Resources Stock Performance

ARC Resources stock opened at C$25.06 on Monday. The company’s 50-day moving average price is C$26.55 and its 200-day moving average price is C$25.53. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company has a market cap of C$14.75 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$21.44 and a twelve month high of C$29.90.

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.