ARC Resources (TSE:ARX) Stock Price Expected to Rise, National Bankshares Analyst Says

ARC Resources (TSE:ARX) had its price target lifted by equities researchers at National Bankshares from C$31.00 to C$32.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 29.08% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Desjardins boosted their price target on ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Scotiabank boosted their target price on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. UBS Group lowered their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Finally, CIBC raised their target price on shares of ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARC Resources has a consensus rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Price Performance

Shares of TSE ARX traded up C$1.71 during trading hours on Thursday, hitting C$24.79. 2,848,471 shares of the stock were exchanged, compared to its average volume of 2,024,842. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$26.45. The company has a market cap of C$14.78 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The company’s fifty day simple moving average is C$23.75 and its two-hundred day simple moving average is C$24.40.

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.