Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$33.17

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been given a consensus recommendation of "Buy" by the eight ratings firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$33.17.

Several equities research analysts have recently weighed in on ARX shares. TD Securities increased 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. CIBC lowered their price target on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. Desjardins boosted their price target on shares of ARC Resources from C$34.50 to C$35.50 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Royal Bank of Canada increased their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, UBS Group lowered their target price on shares of ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th.

ARC Resources Price Performance

ARX stock traded down C$0.55 during midday trading on Tuesday, reaching C$28.59. The company had a trading volume of 553,405 shares, compared to its average volume of 1,896,177. The company has a market capitalization of C$16.83 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. 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$30.17. The stock has a 50 day moving average price of C$27.26 and a 200-day moving average price of C$26.44.

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.