ARC Resources (TSE:ARX) was upgraded by research analysts at Stifel Firstegy from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
A number of other analysts also recently weighed in on ARX. Tudor Pickering & Holt downgraded shares of ARC Resources from a “buy” rating to a “hold” rating and set a C$9.00 price target for the company. in a report on Tuesday, January 7th. CIBC dropped their price objective on shares of ARC Resources from C$10.50 to C$10.00 in a research note on Monday, February 10th. TD Securities raised shares of ARC Resources from a “buy” rating to an “action list buy” rating and set a C$9.50 price objective for the company in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on shares of ARC Resources from C$10.00 to C$9.00 in a research note on Friday, October 18th. Finally, Canaccord Genuity increased their price objective on shares of ARC Resources from C$10.00 to C$11.00 in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. ARC Resources currently has an average rating of “Buy” and an average price target of C$9.60.
Shares of ARC Resources stock opened at C$7.11 on Thursday. The company has a 50 day moving average of C$7.52 and a 200-day moving average of C$6.67. ARC Resources has a 1-year low of C$5.37 and a 1-year high of C$10.49. The company has a current ratio of 0.53, a quick ratio of 0.34 and a debt-to-equity ratio of 26.86. The company has a market cap of $2.51 billion and a PE ratio of -88.88.
About ARC Resources
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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