CIBC Cuts ARC Resources (TSE:ARX) Price Target to C$33.00

ARC Resources (TSE:ARX) had its price objective lowered by CIBC from C$35.00 to C$33.00 in a research report released on Thursday morning,BayStreet.CA reports.

Several other brokerages have also recently issued reports on ARX. TD Securities boosted their price target on 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. Raymond James dropped their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday. BMO Capital Markets increased their price target on ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. Jefferies Financial Group boosted their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Finally, National Bankshares raised their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Seven investment 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.com, ARC Resources currently has a consensus rating of “Buy” and an average target price of C$32.58.

ARC Resources Trading Up 2.8 %

TSE ARX opened at C$25.06 on Thursday. 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 12 month low of C$21.44 and a 12 month high of C$29.90. The company has a market capitalization of C$14.75 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The firm’s fifty day moving average price is C$26.55 and its 200 day moving average price is C$25.53.

About ARC Resources

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.