Analysts Set ARC Resources Ltd. (TSE:ARX) PT at C$32.79

Shares of ARC Resources Ltd. (TSE:ARX) have earned an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$32.73.

ARX has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of ARC Resources from C$37.00 to C$39.00 in a research note on Wednesday, March 26th. TD Securities lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, February 7th. CIBC increased their price target on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Raymond James decreased their price objective on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday. Finally, Jefferies Financial Group raised their target price on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$25.32 on Monday. The firm has a market capitalization of C$14.90 billion, a PE ratio of 13.35, a PEG ratio of 0.29 and a beta of 1.26. 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 business’s 50 day moving average is C$26.56 and its 200-day moving average is C$25.50.

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.