ARC Resources Ltd. (TSE:ARX) Receives C$32.79 Consensus Price Target from Brokerages

ARC Resources Ltd. (TSE:ARX) has received an average recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$32.58.

Several equities research analysts recently commented on ARX shares. UBS Group upped their price target on shares of ARC Resources from C$37.00 to C$39.00 in a research report on Wednesday, March 26th. CIBC decreased their target price on ARC Resources from C$35.00 to C$33.00 in a research report on Thursday. National Bankshares upped their price target 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. Jefferies Financial Group increased their price objective on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Finally, Raymond James lowered their target price on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th.

ARC Resources Price Performance

TSE ARX opened at C$25.06 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. ARC Resources has a 1 year low of C$21.44 and a 1 year high of C$29.90. The company has a market cap of C$14.75 billion, a PE ratio of 13.22, a PEG ratio of 0.29 and a beta of 1.26. The stock’s 50-day moving average price is C$26.55 and its two-hundred day moving average price is C$25.54.

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.