CIBC Issues Pessimistic Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price objective lowered by research analysts at CIBC from C$35.00 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 31.68% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group upped their target price on shares of ARC Resources from C$37.00 to C$39.00 in a report on Wednesday, March 26th. National Bankshares upped their price objective 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 cut their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday. Jefferies Financial Group increased their price target on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Finally, BMO Capital Markets lifted their price objective on ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$32.58.

ARC Resources Trading Up 2.8 %

Shares of ARX opened at C$25.06 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The stock has a market cap of C$14.75 billion, a PE ratio of 13.22, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 1 year low of C$21.44 and a 1 year high of C$29.90. The stock has a 50 day simple moving average of C$26.55 and a 200-day simple moving average of C$25.53.

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.