ATB Capital Increases ARC Resources (TSE:ARX) Price Target to C$33.50

ARC Resources (TSE:ARX) had its target price lifted by ATB Capital from C$31.00 to C$33.50 in a research note published on Thursday,BayStreet.CA reports. ATB Capital currently has an outperform rating on the oil and gas exploration company’s stock.

ARX has been the subject of a number of other research reports. National Bankshares raised their price objective on shares of ARC Resources from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James reduced their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. 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 report on Friday, February 7th. CIBC dropped their target price on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. Finally, Desjardins increased their target price on shares of ARC Resources from C$34.50 to C$35.50 and gave the company a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$33.17.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$29.16 on Thursday. 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 company has a market cap of C$17.16 billion, a P/E ratio of 15.38, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$30.17. The company has a 50-day moving average price of C$27.08 and a 200 day moving average price of C$26.25.

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.