UBS Group Has Lowered Expectations for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its target price dropped by research analysts at UBS Group from C$35.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. UBS Group’s price objective would indicate a potential upside of 23.55% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. National Bankshares boosted their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James reduced their price objective on shares of 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, CIBC reduced their price target on ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$32.19.

ARC Resources Stock Performance

TSE:ARX opened at C$27.52 on Thursday. The stock’s 50-day moving average is C$26.63 and its 200-day moving average is C$25.63. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$29.90. 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$16.20 billion, a P/E ratio of 14.51, 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.