ARC Resources Ltd. (TSE:ARX) Given Consensus Recommendation of “Buy” by Brokerages

ARC Resources Ltd. (TSE:ARX) has received a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$32.29.

ARX has been the subject of several research reports. CIBC cut their price objective on ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. UBS Group decreased their target price on shares of ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. TD Securities boosted their price target on ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research note on Friday, February 7th. National Bankshares raised their target price on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, 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.

ARC Resources Price Performance

Shares of ARX opened at C$25.11 on Friday. ARC Resources has a 12 month low of C$21.44 and a 12 month high of C$29.90. The company has a market cap of C$14.78 billion, a P/E ratio of 13.24, a PEG ratio of 0.29 and a beta of 1.26. 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 stock has a fifty day moving average price of C$26.54 and a 200 day moving average price of C$25.83.

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.