ARC Resources (TSE:ARX) Stock Price Expected to Rise, TD Securities Analyst Says

ARC Resources (TSE:ARX - Get Free Report) had its price objective boosted by research analysts at TD Securities from C$30.00 to C$31.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. TD Securities' price target suggests a potential upside of 25.05% from the company's previous close.

A number of other research analysts also recently issued reports on the company. UBS Group cut their price target on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. CIBC increased their price objective on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Jefferies Financial Group decreased their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Scotiabank raised their target price on ARC Resources from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Cormark upgraded ARC Resources to a "moderate buy" rating in a research report on Monday, September 23rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ARC Resources has a consensus rating of "Buy" and a consensus price target of C$30.96.

ARC Resources Trading Up 7.4 %

Shares of TSE:ARX traded up C$1.71 during trading on Thursday, reaching C$24.79. The company's stock had a trading volume of 2,848,471 shares, compared to its average volume of 2,024,842. The stock has a market capitalization of C$14.78 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The firm's 50 day simple moving average is C$23.75 and its two-hundred day simple moving average is C$24.40. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

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.

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