ARC Resources (TSE:ARX) Stock Price Expected to Rise, ATB Capital Analyst Says

ARC Resources (TSE:ARX) had its target price hoisted by research analysts at ATB Capital from C$31.00 to C$33.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. ATB Capital’s target price would indicate a potential upside of 12.87% from the company’s current price.

ARX has been the subject of a number of other reports. UBS Group dropped their target price on shares of ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. TD Securities boosted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Raymond James dropped their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, April 9th. National Bankshares boosted their target price on shares of ARC Resources from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Desjardins boosted their target price on shares of ARC Resources from C$34.50 to C$35.50 and gave the stock a “buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$33.17.

ARC Resources Trading Up 1.8%

Shares of TSE ARX opened at C$29.68 on Thursday. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$30.17. The company has a market cap of C$17.47 billion, a PE ratio of 15.65, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The company has a 50-day moving average of C$27.14 and a two-hundred day moving average of C$26.29.

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.