ARC Resources Ltd. (TSE:ARX) Receives C$32.29 Average Price Target from Analysts

ARC Resources Ltd. (TSE:ARX) has received an average recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$32.29.

A number of research firms recently weighed in on ARX. National Bankshares upped their price target on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Jefferies Financial Group upped their price target on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. BMO Capital Markets upped their price target on ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. TD Securities upped their price target 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. Finally, UBS Group upped their price target on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th.

ARC Resources Stock Performance

Shares of ARX stock opened at C$27.66 on Thursday. The stock has a market cap of C$16.28 billion, a PE ratio of 14.59, 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$26.26 and a 200-day simple moving average of C$25.18. 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$28.15.

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.