ARC Resources Ltd. (TSE:ARX) Receives Average Rating of “Buy” from Analysts

ARC Resources Ltd. (TSE:ARX) has earned an average rating of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$32.29.

Several research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Jefferies Financial Group boosted their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. CIBC boosted their target price on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. National Bankshares boosted their target price on 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. Finally, UBS Group lifted their price target on ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th.

ARC Resources Stock Up 2.6 %

Shares of ARX stock opened at C$27.66 on Thursday. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$28.15. The stock’s fifty day moving average price is C$26.26 and its 200 day moving average price is C$25.18. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The company has a market cap of C$16.28 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

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.