ARC Resources (TSE:ARX) Sets New 1-Year High – What’s Next?

ARC Resources Ltd. (TSE:ARX)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$28.75 and last traded at C$28.66, with a volume of 101960 shares trading hands. The stock had previously closed at C$28.07.

Analysts Set New Price Targets

ARX has been the topic of a number of recent research reports. 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. CIBC increased their price target on shares of ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. TD Securities boosted their price objective 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. Jefferies Financial Group upped their target price on shares of ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. Finally, UBS Group raised their price target on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$32.29.

ARC Resources Price Performance

The company has a market capitalization of C$16.63 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. 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 firm’s 50-day moving average is C$26.33 and its 200-day moving average is C$25.25.

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.