ARC Resources (TSE:ARX) Price Target Lowered to C$32.00 at Raymond James

ARC Resources (TSE:ARX) had its price objective cut by Raymond James from C$33.00 to C$32.00 in a report released on Wednesday,BayStreet.CA reports.

A number of other equities analysts also recently weighed in on ARX. CIBC boosted their target price on shares of ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. National Bankshares raised their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. TD Securities increased their target price on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, BMO Capital Markets upped their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$32.73.

ARC Resources Stock Down 5.5 %

Shares of ARC Resources stock traded down C$1.38 during trading hours on Wednesday, reaching C$23.94. 581,650 shares of the company’s stock were exchanged, compared to its average volume of 1,989,761. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The company has a 50 day moving average of C$26.56 and a two-hundred day moving average of C$25.50. The stock has a market cap of C$14.09 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a fifty-two week low of C$21.44 and a fifty-two week high of C$29.90.

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.