ARC Resources (TSE:ARX) Price Target Raised to C$34.50 at Desjardins

ARC Resources (TSE:ARX - Get Free Report) had its target price raised by Desjardins from C$33.50 to C$34.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the oil and gas exploration company's stock. Desjardins' target price would indicate a potential upside of 26.88% from the stock's current price.

A number of other equities research analysts also recently commented on the company. CIBC dropped their price objective on ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. National Bankshares upped their price target on ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James cut their price target on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. UBS Group decreased their price objective on shares of ARC Resources from C$35.00 to C$34.00 in a report on Thursday, April 17th. Finally, 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$32.54.

ARC Resources Trading Up 1.5 %

ARX traded up C$0.41 during trading on Monday, reaching C$27.19. 1,238,788 shares of the company's stock were exchanged, compared to its average volume of 1,971,357. The company's fifty day moving average price is C$26.55 and its 200-day moving average price is C$25.94. The firm has a market capitalization of C$16.00 billion, a PE ratio of 14.34, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a fifty-two week low of C$21.44 and a fifty-two week high of C$29.90. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

About ARC Resources

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.