ARC Resources Ltd. (TSE:ARX - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.56 and last traded at C$31.29, with a volume of 1821538 shares traded. The stock had previously closed at C$30.83.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. ATB Capital boosted their target price on shares of 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. CIBC lowered their price objective on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Raymond James Financial dropped their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. UBS Group decreased their target price on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. Finally, Desjardins upped their target price on ARC Resources from C$34.50 to C$35.50 and gave the company a "buy" rating in a report on Thursday, May 22nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$33.17.
View Our Latest Stock Analysis on ARX
ARC Resources Stock Performance
The firm has a fifty day moving average price of C$27.90 and a 200 day moving average price of C$26.81. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The firm has a market capitalization of C$18.12 billion, a PE ratio of 16.24, a P/E/G ratio of 0.29 and a beta of 1.26.
ARC Resources Company Profile
(
Get Free Report)
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.
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