ARC Resources (TSE:ARX) Price Target Raised to C$34.50

by · The Cerbat Gem

ARC Resources (TSE:ARX – Free Report) had its price objective boosted by Desjardins from C$33.50 to C$34.50 in a report published on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other analysts also recently weighed in on ARX. Raymond James reduced their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. CIBC decreased their target price on shares of ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. UBS Group cut their price target on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. National Bankshares lifted their price objective on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, TD Securities boosted their target price on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ARC Resources presently has an average rating of “Buy” and a consensus target price of C$32.54.

Check Out Our Latest Research Report on ARX

ARC Resources Price Performance

Shares of TSE ARX opened at C$26.67 on Monday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. ARC Resources has a 1 year low of C$21.44 and a 1 year high of C$29.90. The company’s 50-day moving average is C$26.48 and its 200 day moving average is C$25.86. The stock has a market capitalization of C$15.70 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources Company Profile

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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.

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