ARC Resources (TSE:ARX) had its price target boosted by Raymond James from C$16.00 to C$16.25 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the oil and gas exploration company’s stock. Raymond James’ price target would indicate a potential upside of 96.49% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. GMP Securities lifted their price objective on ARC Resources from C$12.75 to C$14.25 in a report on Friday, February 8th. Eight Capital lifted their price objective on ARC Resources from C$10.25 to C$10.75 in a report on Friday, February 8th. National Bank Financial raised ARC Resources from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Thursday, February 7th. TD Securities decreased their price objective on ARC Resources from C$14.00 to C$13.50 and set a “buy” rating for the company in a report on Friday, February 8th. Finally, CIBC decreased their price objective on ARC Resources from C$17.00 to C$16.00 in a report on Wednesday, May 1st. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$14.08.
ARX traded up C$0.01 during trading hours on Thursday, hitting C$8.27. The stock had a trading volume of 1,397,680 shares, compared to its average volume of 2,167,768. ARC Resources has a 1 year low of C$7.38 and a 1 year high of C$15.90. The firm has a market cap of $2.92 billion and a P/E ratio of 28.52. The company has a debt-to-equity ratio of 26.10, a quick ratio of 0.95 and a current ratio of 1.38.
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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