ARC Resources (TSE:ARX) Sets New 12-Month High – What’s Next?

ARC Resources Ltd. (TSE:ARX) shares reached a new 52-week high on Tuesday . The company traded as high as C$33.73 and last traded at C$33.68, with a volume of 144425 shares. The stock had previously closed at C$33.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARX shares. Royal Bank Of Canada upped their price target on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Capital One Financial downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. TD Securities lowered shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. Canaccord Genuity Group lowered ARC Resources from a “buy” rating to a “hold” rating and upped their target price for the stock from C$31.00 to C$32.00 in a report on Tuesday, April 28th. Finally, Jefferies Financial Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ARC Resources presently has an average rating of “Hold” and a consensus price target of C$30.35.

ARC Resources Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 39.16. The stock has a market cap of C$19.09 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 0.29 and a beta of -0.37. The stock has a 50 day simple moving average of C$31.59 and a 200 day simple moving average of C$29.15.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share for the quarter. ARC Resources had a return on equity of 16.64% and a net margin of 19.29%.The firm had revenue of C$2.16 billion for the quarter. On average, equities analysts expect that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.