ARC Resources (TSE:ARX) Price Target Raised to C$39.00

ARC Resources (TSE:ARX) had its price objective boosted by equities researchers at UBS Group from C$37.00 to C$39.00 in a research note issued on Wednesday,BayStreet.CA reports. UBS Group’s price target would suggest a potential upside of 35.46% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. TD Securities boosted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research note on Friday, February 7th. CIBC increased their target price on ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. BMO Capital Markets boosted their price target on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Jefferies Financial Group increased their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Finally, National Bankshares boosted 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. Seven 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 data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$32.79.

ARC Resources Stock Up 1.9 %

Shares of ARX stock traded up C$0.54 during mid-day trading on Wednesday, hitting C$28.79. The company’s stock had a trading volume of 889,010 shares, compared to its average volume of 1,929,033. ARC Resources has a 52-week low of C$21.44 and a 52-week high of C$29.05. The business has a 50-day moving average price of C$26.33 and a 200 day moving average price of C$25.25. The stock has a market cap of C$16.94 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

About ARC Resources

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.