ARC Resources (TSE:ARX) Sets New 12-Month High – Here’s Why

ARC Resources Ltd. (TSE:ARX) 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 trading hands. The stock had previously closed at C$28.43.

Analyst Ratings Changes

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

ARC Resources Trading Up 0.9 %

The firm has a market cap of C$17.19 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.29 and a beta of 1.26. The business has a fifty day moving average of C$26.54 and a two-hundred day moving average of C$25.38. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

About ARC Resources

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.