ARC Resources (TSE:ARX)‘s stock had its “buy” rating reaffirmed by stock analysts at Tudor Pickering & Holt in a research note issued on Friday, BayStreet.CA reports.
Several other research firms have also recently commented on ARX. CIBC cut their price target on ARC Resources from C$11.00 to C$9.50 in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on ARC Resources from C$10.00 to C$9.00 in a research note on Friday, October 18th. National Bank Financial cut their price target on ARC Resources from C$10.50 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Canaccord Genuity reiterated a “buy” rating and issued a C$10.00 price target on shares of ARC Resources in a research note on Wednesday, October 16th. Finally, Raymond James reiterated a “strong-buy” rating and issued a C$12.00 price target on shares of ARC Resources in a research note on Friday, September 13th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. ARC Resources currently has an average rating of “Buy” and a consensus price target of C$9.94.
Shares of TSE:ARX traded up C$0.17 during trading on Friday, hitting C$6.64. The company’s stock had a trading volume of 3,984,858 shares, compared to its average volume of 2,169,943. The company has a debt-to-equity ratio of 23.88, a quick ratio of 0.57 and a current ratio of 1.06. ARC Resources has a fifty-two week low of C$5.37 and a fifty-two week high of C$11.48. The stock’s 50-day moving average price is C$5.94 and its two-hundred day moving average price is C$6.67. The company has a market capitalization of $2.10 billion and a PE ratio of 9.76.
About ARC Resources
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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