ARC Resources (TSE:ARX) Sets New 52-Week High – What’s Next?

ARC Resources Ltd. (TSE:ARX)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$34.40 and last traded at C$34.06, with a volume of 6973867 shares. The stock had previously closed at C$33.34.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada raised their price target on ARC Resources from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ARC Resources presently has an average rating of “Hold” and an average target price of C$30.35.

ARC Resources Price Performance

The stock has a 50 day moving average of C$32.11 and a 200-day moving average of C$29.77. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 39.16. The stock has a market capitalization of C$19.36 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.29 and a beta of -0.37.

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

ARC Resources Company Profile

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.