ARC Resources (TSE:ARX) Given a C$33.00 Price Target by Raymond James Analysts

ARC Resources (TSE:ARX - Get Free Report) has been assigned a C$33.00 price target by analysts at Raymond James in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the oil and gas exploration company's stock. Raymond James' target price would suggest a potential upside of 31.68% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. CIBC lifted their price target on ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. TD Securities increased their price objective on ARC Resources from C$33.00 to C$34.00 and gave the stock a "buy" rating in a report on Friday, February 7th. National Bankshares lifted their target price on ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on ARC Resources from C$37.00 to C$39.00 in a research note on Wednesday, March 26th. Seven research 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 stock presently has a consensus rating of "Buy" and a consensus price target of C$32.58.

ARC Resources Stock Performance

ARX traded up C$0.69 during trading on Tuesday, reaching C$25.06. 2,452,313 shares of the company were exchanged, compared to its average volume of 2,022,990. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$29.90. 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 firm has a 50 day moving average of C$26.55 and a 200 day moving average of C$25.53. The stock has a market cap of C$14.75 billion, a P/E ratio of 13.22, a PEG ratio of 0.29 and a beta of 1.26.

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.