Desjardins Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its price objective raised by Desjardins from C$34.50 to C$35.50 in a report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.

ARX has been the subject of several other research reports. UBS Group decreased their price objective on ARC Resources from C$35.00 to C$34.00 in a report on Thursday, April 17th. Raymond James cut their price target on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. CIBC cut their price target on ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. National Bankshares lifted their price target on ARC Resources from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Securities lifted their price target on ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$33.17.

ARC Resources Stock Performance

Shares of ARX stock opened at C$29.16 on Thursday. The stock has a market cap of C$17.16 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The business has a 50-day simple moving average of C$27.08 and a 200-day simple moving average of C$26.25. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 52-week low of C$21.44 and a 52-week high of C$30.17.

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.