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

Shares of ARC Resources Ltd. (TSE:ARX) have been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Seven investment 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 covered the stock in the last year is C$33.17.

A number of research firms have commented on ARX. National Bankshares increased their target price on ARC Resources from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Raymond James Financial dropped their price objective on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. ATB Capital boosted their target price on shares of ARC Resources from C$31.00 to C$33.50 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Royal Bank Of Canada increased their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, Desjardins raised their price target on shares of ARC Resources from C$34.50 to C$35.50 and gave the company a “buy” rating in a report on Thursday, May 22nd.

ARC Resources Stock Performance

ARX stock opened at C$30.80 on Friday. The firm has a market cap of C$18.13 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$21.44 and a twelve month high of C$31.56. The business’s fifty day simple moving average is C$28.26 and its two-hundred day simple moving average is C$26.90. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

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.