ARC Resources (TSE:ARX) Upgraded by Raymond James to Moderate Buy Rating

Raymond James upgraded shares of ARC Resources (TSE:ARX) to a moderate buy rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. CIBC increased their target price on ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. National Bankshares increased their price objective on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. UBS Group lifted their price objective on shares of ARC Resources from C$37.00 to C$39.00 in a research note on Wednesday, March 26th. TD Securities raised 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. Finally, BMO Capital Markets upped their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$32.81.

ARC Resources Stock Down 4.6 %

Shares of TSE:ARX opened at C$23.88 on Monday. ARC Resources has a 1-year low of C$21.44 and a 1-year high of C$29.90. The company’s fifty day moving average is C$26.55 and its two-hundred day moving average is C$25.48. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The stock has a market capitalization of C$14.05 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

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.