ARC Resources (TSE:ARX) Sets New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada upped their target price on ARC Resources from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$30.35.

ARC Resources Stock Performance

The firm’s 50 day moving average is C$32.11 and its 200 day moving average is C$29.77. The company has a debt-to-equity ratio of 39.16, a quick ratio of 0.42 and a current ratio of 0.88. The stock has a market cap 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 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 business had revenue of C$2.16 billion for the quarter. 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.