ARC Resources (TSE:ARX) Sets New 12-Month High - Here's Why

Key Points

• ARC Resources shares reached a new 52-week high, trading as high as C$33.10 and last changing hands at C$33.00, above the previous close of C$32.54.
• Despite the stock’s gains, analyst sentiment has weakened: the consensus rating is “Hold” with a C$30.35 price target, below the current trading level. Several firms recently downgraded the stock or lowered their ratings.
• ARC Resources reported quarterly EPS of C$1.03 on C$2.10 billion in revenue, with a 22.18% net margin and 17.43% return on equity. The company has a market capitalization of approximately C$18.56 billion.

Shares of ARC Resources Ltd. (TSE:ARX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$33.10 and last traded at C$33.00, with a volume of 577410 shares trading hands. The stock had previously closed at C$32.54.

Analyst Upgrades and Downgrades

ARX has been the subject of several recent research reports. TD Securities downgraded ARC Resources from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, April 27th. Scotiabank upgraded ARC Resources to a "hold" rating in a research report on Wednesday, April 1st. Canaccord Genuity Group lowered ARC Resources from a "buy" rating to a "hold" rating and increased their price objective for the company from C$31.00 to C$32.00 in a research note on Tuesday, April 28th. BMO Capital Markets cut ARC Resources from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, Capital One Financial downgraded shares of ARC Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, ARC Resources has a consensus rating of "Hold" and a consensus price target of C$30.35.

ARC Resources Stock Up 0.7%

The firm's 50 day moving average is C$31.20 and its 200-day moving average is C$28.35. The firm has a market cap of C$18.56 billion, a PE ratio of 12.95, a P/E/G ratio of 0.29 and a beta of -0.36. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61.

ARC Resources (TSE:ARX - Get Free Report) last released its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. The firm had revenue of C$2.10 billion during the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. As a group, equities research analysts expect that ARC Resources Ltd. will post 2.7255139 earnings per share for the current fiscal year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.

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