TD Securities Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its price objective lifted by stock analysts at TD Securities from C$30.00 to C$31.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. TD Securities’ price objective indicates a potential upside of 24.70% from the company’s previous close.

Several other equities analysts also recently weighed in on ARX. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. CIBC raised their price objective on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Canaccord Genuity Group upped their target price on ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. National Bankshares decreased their price objective on ARC Resources from C$32.00 to C$31.00 in a research note on Friday, September 27th. Finally, UBS Group reduced their target price on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$30.96.

ARC Resources Stock Down 0.8 %

ARX opened at C$24.86 on Thursday. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The company has a market cap of C$14.82 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The business’s fifty day moving average is C$23.74 and its two-hundred day moving average is C$24.40.

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.