ARC Resources (TSE:ARX) Rating Increased to Moderate Buy at Raymond James

Raymond James upgraded shares of ARC Resources (TSE:ARX - Free Report) to a moderate buy rating in a report issued on Monday, April 7th,Zacks.com reports.

Several other brokerages have also recently commented on ARX. UBS Group boosted their price target on ARC Resources from C$37.00 to C$39.00 in a research note on Wednesday, March 26th. TD Securities raised their price objective 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. Jefferies Financial Group raised their price objective on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. National Bankshares lifted their target price on shares of 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. Finally, CIBC increased their price objective on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ARC Resources currently has an average rating of "Buy" and a consensus price target of C$32.58.

ARC Resources Stock Up 0.3 %

Shares of ARX traded up C$0.08 during trading hours on Monday, reaching C$25.14. The company's stock had a trading volume of 386,237 shares, compared to its average volume of 1,999,792. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$29.90. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The firm has a market cap of C$14.80 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a 50 day moving average of C$26.55 and a two-hundred day moving average of C$25.54.

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.