ARC Resources Ltd. (TSE:ARX) Receives Consensus Recommendation of “Buy” from Analysts

ARC Resources Ltd. (TSE:ARX) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$32.29.

ARX has been the topic of several research analyst reports. TD Securities increased their price objective on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, February 7th. National Bankshares upped their target price on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. UBS Group reduced their price target on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. Raymond James reduced their price objective on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. Finally, CIBC decreased their target price on shares of ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th.

ARC Resources Stock Performance

ARX opened at C$25.11 on Friday. The business has a 50 day moving average of C$26.54 and a 200-day moving average of C$25.83. ARC Resources has a 12-month low of C$21.44 and a 12-month high of C$29.90. The stock has a market cap of C$14.78 billion, a price-to-earnings ratio of 13.24, a PEG 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.