ARC Resources (TSE:ARX) Shares Up 0.9% – Here’s What Happened

Shares of ARC Resources Ltd. (TSE:ARX) were up 0.9% on Thursday . The company traded as high as C$27.14 and last traded at C$27.07. Approximately 221,939 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,001,267 shares. The stock had previously closed at C$26.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARX shares. National Bankshares increased their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James reduced their price objective on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. CIBC lowered their target price on ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. TD Securities increased their price target 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. Finally, UBS Group decreased their price objective on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$32.19.

ARC Resources Price Performance

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 firm has a market capitalization of C$16.20 billion, a PE ratio of 14.51, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a 50-day moving average price of C$26.63 and a 200-day moving average price of C$25.63.

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.