ARC Resources (TSE:ARX) Hits New 12-Month High – Should You Buy?

ARC Resources Ltd. (TSE:ARX)’s stock price hit a new 52-week high on Monday . The company traded as high as C$29.05 and last traded at C$28.98, with a volume of 312668 shares traded. The stock had previously closed at C$28.43.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ARX shares. TD Securities boosted their target price on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a report on Friday, February 7th. BMO Capital Markets boosted their price objective on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. CIBC raised their target price on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. National Bankshares boosted their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$32.79.

ARC Resources Trading Up 1.7 %

The firm has a market capitalization of C$17.02 billion, a P/E ratio of 15.25, a PEG ratio of 0.29 and a beta of 1.26. The business has a 50-day moving average price of C$26.45 and a 200-day moving average price of C$25.32. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

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.