ARC Resources (ARX) Price Target Raised to C$16.25 at Raymond James
ARC Resources (TSE:ARX) had its target price raised by Raymond James from C$16.00 to C$16.25 in a report issued on Thursday morning, BayStreet.CA reports. The brokerage currently has a strong-buy rating on the oil and gas exploration company’s stock.
Other research analysts also recently issued reports about the company. Eight Capital upped their price target on ARC Resources from C$10.25 to C$10.75 in a report on Friday, February 8th. GMP Securities increased their target price on ARC Resources from C$12.75 to C$14.25 in a report on Friday, February 8th. CIBC lowered their target price on ARC Resources from C$17.00 to C$16.00 in a report on Wednesday, May 1st. National Bank Financial increased their target price on ARC Resources from C$11.00 to C$12.00 in a report on Monday, April 8th. Finally, TD Securities lowered their target price on ARC Resources from C$14.00 to C$13.50 and set a buy rating on the stock in a report on Friday, February 8th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. ARC Resources has a consensus rating of Buy and a consensus price target of C$14.08.
Shares of TSE:ARX opened at C$8.18 on Thursday. The firm has a market cap of $2.89 billion and a PE ratio of 28.21. The company has a debt-to-equity ratio of 26.10, a quick ratio of 0.95 and a current ratio of 1.38. ARC Resources has a 1 year low of C$7.38 and a 1 year high of C$15.90.
About ARC Resources
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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