ARC Resources (TSE:ARX) Given New C$32.00 Price Target at Raymond James

ARC Resources (TSE:ARX) had its price target lowered by equities research analysts at Raymond James from C$33.00 to C$32.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Raymond James’ target price would suggest a potential upside of 30.19% from the company’s current price.

A number of other brokerages have also issued reports on ARX. UBS Group raised their price objective on shares of ARC Resources from C$37.00 to C$39.00 in a report on Wednesday, March 26th. Jefferies Financial Group lifted their target price on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. BMO Capital Markets lifted their price objective on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. CIBC increased their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Finally, TD Securities boosted their price target on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$32.73.

ARC Resources Price Performance

Shares of ARX traded up C$0.70 during trading hours on Wednesday, reaching C$24.58. The stock had a trading volume of 1,647,726 shares, compared to its average volume of 1,975,411. The stock has a market capitalization of C$14.47 billion, a PE ratio of 12.96, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 12 month low of C$21.44 and a 12 month high of C$29.90. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The company’s 50-day moving average is C$26.55 and its two-hundred day moving average is C$25.48.

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.