ARC Resources (TSE:ARX) Price Target Raised to C$31.00

ARC Resources (TSE:ARX) had its price target boosted by research analysts at TD Securities from C$30.00 to C$31.00 in a research note issued 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 indicates a potential upside of 25.05% from the stock’s previous close.

ARX has been the subject of a number of other research reports. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. National Bankshares lowered their price objective on ARC Resources from C$32.00 to C$31.00 in a research report on Friday, September 27th. 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 research report on Wednesday, October 16th. Jefferies Financial Group lowered 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 report on Monday, September 16th. Finally, Desjardins increased their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Buy” and an average price target of C$30.96.

ARC Resources Stock Up 7.4 %

Shares of TSE ARX traded up C$1.71 during mid-day trading on Thursday, hitting C$24.79. The company had a trading volume of 2,848,471 shares, compared to its average volume of 2,024,842. The business’s 50-day simple moving average is C$23.75 and its 200 day simple moving average is C$24.40. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company 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 1-year low of C$19.02 and a 1-year high of C$26.45.

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.