ARC Resources (TSE:ARX) Hits New 52-Week High – Still a Buy?

ARC Resources Ltd. (TSE:ARX) reached a new 52-week high on Monday . The stock 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.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARX shares. CIBC increased their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. UBS Group increased their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. BMO Capital Markets increased their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Finally, TD Securities increased their price target on shares of 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$32.29.

ARC Resources Trading Up 1.7 %

The stock has a market capitalization of C$16.80 billion, a P/E ratio of 15.05, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The business’s 50 day simple moving average is C$26.28 and its 200-day simple moving average is C$25.21.

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.