Raymond James Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX - Free Report) had its target price decreased by Raymond James from C$33.00 to C$32.00 in a report issued on Wednesday morning,BayStreet.CA reports.

ARX has been the subject of a number of other research reports. National Bankshares boosted their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. UBS Group upped their price target on ARC Resources from C$37.00 to C$39.00 in a research report on Wednesday, March 26th. CIBC lifted their price objective on ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. TD Securities increased their target price on shares of 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, Jefferies Financial Group raised their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$32.58.

ARC Resources Stock Performance

ARX stock traded up C$0.35 during trading on Wednesday, reaching C$25.41. The stock had a trading volume of 1,482,785 shares, compared to its average volume of 2,015,487. The firm has a market cap of C$14.96 billion, a PE ratio of 13.40, 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. The stock's 50 day moving average is C$26.55 and its two-hundred day moving average is C$25.54. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$29.90.

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.