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

ARC Resources Ltd. (TSE:ARX) has been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$33.17.

A number of analysts have recently commented on ARX shares. Desjardins boosted their price target on ARC Resources from C$34.50 to C$35.50 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. UBS Group dropped their price target on ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. Raymond James dropped their price target on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. Royal Bank of Canada boosted their price target on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, CIBC dropped their price target on ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th.

ARC Resources Stock Performance

ARC Resources stock opened at C$29.81 on Tuesday. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The stock’s 50 day simple moving average is C$27.18 and its two-hundred day simple moving average is C$26.37. ARC Resources has a fifty-two week low of C$21.44 and a fifty-two week high of C$30.17. The stock has a market cap of C$17.54 billion, a price-to-earnings ratio of 15.72, a PEG 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.