ARC Resources (TSE:ARX) Stock Price Up 0.9% – Here’s Why

Shares of ARC Resources Ltd. (TSE:ARX) were up 0.9% on Thursday . The company traded as high as C$27.14 and last traded at C$27.07. Approximately 221,939 shares were traded during trading, a decline of 89% from the average daily volume of 2,001,267 shares. The stock had previously closed at C$26.83.

Analyst Ratings Changes

A number of research firms recently commented on ARX. TD Securities increased 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 report on Friday, February 7th. Raymond James decreased their price target on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, April 9th. National Bankshares boosted their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. CIBC reduced their price target on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. Finally, UBS Group lowered their price target on ARC Resources from C$35.00 to C$34.00 in a report on Thursday. Seven investment 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$32.19.

ARC Resources Trading Up 2.6 %

The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The firm has a market cap of C$16.21 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The business’s 50 day moving average is C$26.60 and its 200-day moving average is C$25.61.

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.