ARC Resources Ltd. (TSE:ARX) Receives C$30.35 Consensus Target Price from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have earned an average rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$30.35.

A number of research firms have weighed in on ARX. Royal Bank Of Canada upped their price objective on shares of ARC Resources from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Jefferies Financial Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. ATB Cormark Capital Markets cut shares of ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 target price for the company. in a research note on Tuesday, April 28th. Raymond James Financial upped their price target on shares of ARC Resources from C$29.00 to C$32.80 in a research report on Tuesday, April 28th. Finally, BMO Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$30.00 to C$32.00 in a research note on Tuesday, April 28th.

ARC Resources Trading Up 1.7%

Shares of ARX stock opened at C$33.53 on Friday. The company has a debt-to-equity ratio of 39.16, a current ratio of 0.88 and a quick ratio of 0.42. The company has a market cap of C$18.99 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.29 and a beta of -0.36. The stock has a 50 day simple moving average of C$31.27 and a 200-day simple moving average of C$28.46. ARC Resources has a 1-year low of C$21.14 and a 1-year high of C$33.56.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 16.64% and a net margin of 19.29%.The firm had revenue of C$2.16 billion for the quarter. On average, equities research analysts expect that ARC Resources will post 2.7255139 EPS for the current fiscal year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.