Desjardins Issues Positive Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX - Get Free Report) had its price target lifted by stock analysts at Desjardins from C$33.50 to C$34.50 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the oil and gas exploration company's stock. Desjardins' target price points to a potential upside of 34.45% from the company's current price.

A number of other brokerages have also recently issued reports on ARX. CIBC reduced their price objective on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. National Bankshares raised their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Raymond James dropped their price objective on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. TD Securities raised their target price on ARC Resources from C$33.00 to C$34.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, UBS Group dropped their price target on ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$32.54.

ARC Resources Stock Down 0.6 %

ARX stock traded down C$0.15 during trading on Monday, reaching C$25.66. 734,369 shares of the stock were exchanged, compared to its average volume of 1,970,082. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. ARC Resources has a twelve month low of C$21.44 and a twelve month high of C$29.90. The firm's 50 day moving average is C$26.52 and its 200 day moving average is C$25.84. The firm has a market cap of C$15.10 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

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.

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