ARC Resources (TSE:ARX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

ARC Resources (TSE:ARX) had its price target boosted by Royal Bank of Canada from C$32.00 to C$34.00 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

A number of other brokerages also recently weighed in on ARX. Raymond James lowered their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. Desjardins boosted their price objective on shares of ARC Resources from C$34.50 to C$35.50 and gave the company a “buy” rating in a research report on Thursday. UBS Group lowered their price objective on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. ATB Capital boosted their price objective on shares of ARC Resources from C$31.00 to C$33.50 and gave the company an “outperform” rating in a research report on Thursday. Finally, CIBC lowered their price objective on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$33.17.

ARC Resources Price Performance

ARX opened at C$29.16 on Thursday. The company has a 50-day moving average of C$27.08 and a 200-day moving average of C$26.25. The company has a market capitalization of C$17.16 billion, a P/E ratio of 15.38, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$30.17. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

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.