ARC Resources (TSE:ARX) Hits New 52-Week High – Here’s Why

Shares of ARC Resources Ltd. (TSE:ARX) reached a new 52-week high on Tuesday . The stock traded as high as C$34.40 and last traded at C$34.06, with a volume of 6973867 shares traded. The stock had previously closed at C$33.34.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their target price on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ARC Resources has an average rating of “Hold” and a consensus target price of C$30.35.

ARC Resources Stock Performance

The stock has a market capitalization of C$19.08 billion, a P/E ratio of 13.65, a PEG ratio of 0.29 and a beta of -0.37. The company’s fifty day simple moving average is C$32.26 and its two-hundred day simple moving average is C$29.91. The company has a debt-to-equity ratio of 39.16, a quick ratio of 0.42 and a current ratio of 0.88.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas exploration company reported C$0.62 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. As a group, equities analysts forecast that ARC Resources Ltd. will post 2.7255139 EPS for the current 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.