ARC Resources Ltd. (TSE:ARX) Receives C$33.17 Consensus Target Price from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the stock, Marketbeat Ratings 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 12-month price target among analysts that have issued a report on the stock in the last year is C$33.17.

Several equities research analysts recently issued reports on the company. ATB Capital lifted their price objective on ARC Resources from C$31.00 to C$33.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Raymond James Financial cut their price objective on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, April 9th. UBS Group decreased their price objective on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. CIBC dropped their target price on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Finally, National Bankshares boosted their price target on shares of ARC Resources from C$33.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd.

ARC Resources Price Performance

TSE:ARX traded down C$0.23 during mid-day trading on Friday, hitting C$29.69. 1,345,892 shares of the stock traded hands, compared to its average volume of 1,874,857. The business's 50-day moving average price is C$28.35 and its 200 day moving average price is C$26.97. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company has a market cap of C$17.47 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 12-month low of C$21.44 and a 12-month high of C$31.56.

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.