BMO Capital Markets Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its price target increased by equities research analysts at BMO Capital Markets from C$32.00 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the oil and gas exploration company’s stock. BMO Capital Markets’ target price suggests a potential upside of 19.26% from the stock’s current price.

Several other brokerages also recently weighed in on ARX. ATB Capital upped their price target on ARC Resources from C$31.00 to C$33.50 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. National Bankshares upped their price target on ARC Resources from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. UBS Group cut their price target on ARC Resources from C$35.00 to C$34.00 in a report on Thursday, April 17th. CIBC cut their price target on ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. Finally, Raymond James Financial cut their price target on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$33.25.

ARC Resources Stock Performance

Shares of ARC Resources stock opened at C$27.67 on Thursday. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$31.56. The business’s fifty day simple moving average is C$28.67 and its 200-day simple moving average is C$27.16. The firm has a market cap of C$16.29 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. 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.