ARC Resources (TSE:ARX) Reaches New 12-Month High - Here's What Happened

ARC Resources Ltd. (TSE:ARX - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as C$31.56 and last traded at C$31.29, with a volume of 1821538 shares trading hands. The stock had previously closed at C$30.83.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARX. Desjardins raised their price target on shares of ARC Resources from C$34.50 to C$35.50 and gave the company a "buy" rating in a research report on Thursday, May 22nd. UBS Group dropped their price target on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. National Bankshares raised their price target on shares of ARC Resources from C$33.00 to C$35.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted 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 report on Thursday, May 22nd. Finally, CIBC decreased their price target on ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$33.17.

ARC Resources Price Performance

The stock has a fifty day moving average of C$28.26 and a 200 day moving average of C$26.92. The firm has a market capitalization of C$18.13 billion, a P/E ratio of 16.24, 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 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.