ARC Resources (TSE:ARX - Get Free Report) had its price target boosted by equities researchers at Royal Bank of Canada from C$32.00 to C$34.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the oil and gas exploration company's stock. Royal Bank of Canada's target price indicates a potential upside of 16.12% from the company's previous close.
ARX has been the subject of a number of other research reports. CIBC lowered their target price on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. UBS Group reduced their price objective on ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. Raymond James decreased their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. Desjardins boosted their price target on ARC Resources from C$34.50 to C$35.50 and gave the stock a "buy" rating in a research report on Thursday. Finally, TD Securities raised their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ARC Resources presently has an average rating of "Buy" and a consensus target price of C$33.17.
Check Out Our Latest Research Report on ARX
ARC Resources Stock Performance
TSE ARX traded down C$0.11 during midday trading on Thursday, hitting C$29.28. The company had a trading volume of 330,545 shares, compared to its average volume of 1,934,813. The firm has a fifty day simple moving average of C$27.04 and a two-hundred day simple moving average of C$26.23. The stock has a market cap of C$17.23 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a fifty-two week low of C$21.44 and a fifty-two week high of C$30.17.
About ARC Resources
(
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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