ARC Resources (TSE:ARX - Get Free Report) had its target price raised by stock analysts at CIBC from C$33.00 to C$34.00 in a report released on Friday,BayStreet.CA reports. CIBC's target price would indicate a potential upside of 38.04% from the stock's previous close.
A number of other equities analysts have also issued reports on the company. TD Securities upped their target price on ARC Resources from C$30.00 to C$31.00 and gave the company a "buy" rating in a research report on Thursday. Desjardins upped their price target on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Jefferies Financial Group decreased their price objective on shares of ARC Resources from C$30.00 to C$27.00 and set a "buy" rating for the company in a report on Monday, September 16th. National Bankshares upped their target price on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday. Finally, Canaccord Genuity Group lifted their price target on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ARC Resources has a consensus rating of "Buy" and an average target price of C$30.96.
Check Out Our Latest Stock Analysis on ARX
ARC Resources Stock Down 1.7 %
Shares of ARC Resources stock traded down C$0.43 during trading hours on Friday, hitting C$24.63. 1,253,511 shares of the company's stock traded hands, compared to its average volume of 2,028,250. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. The stock has a 50 day simple moving average of C$23.75 and a 200-day simple moving average of C$24.39. The company has a market cap of C$14.68 billion, a PE ratio of 12.76, a PEG ratio of 0.29 and a beta of 1.26.
About ARC Resources
(
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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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