ARC Resources (ARX) Given New C$13.50 Price Target at National Bank Financial
ARC Resources (TSE:ARX) had its price target decreased by research analysts at National Bank Financial from C$16.50 to C$13.50 in a research note issued to investors on Friday. The brokerage presently has a “sector perform” rating on the oil and gas exploration company’s stock. National Bank Financial’s target price points to a potential upside of 28.69% from the stock’s previous close.
Several other research analysts also recently commented on the stock. Raymond James dropped their price objective on shares of ARC Resources from C$23.00 to C$22.50 in a report on Friday, October 5th. BMO Capital Markets increased their price objective on shares of ARC Resources from C$15.00 to C$17.00 in a report on Thursday, August 2nd. Royal Bank of Canada increased their price objective on shares of ARC Resources from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Finally, TD Securities increased their price objective on shares of ARC Resources from C$16.50 to C$17.50 in a report on Thursday, August 2nd.
ARX opened at C$10.49 on Friday. ARC Resources has a 52 week low of C$10.03 and a 52 week high of C$18.34. The company has a debt-to-equity ratio of 24.98, a quick ratio of 0.63 and a current ratio of 1.30.
About ARC Resources
ARC Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids. The company primarily holds interests in the Montney resource play properties located in northeast British Columbia and northern Alberta; and other assets located in the Cardium formation in the Pembina area of Alberta.
Featured Article: Stop Order Uses For Individual Investors
Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.