ARC Resources (TSE:ARX) Sets New 1-Year High – Should You Buy?

ARC Resources Ltd. (TSE:ARX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$29.05 and last traded at C$28.98, with a volume of 312668 shares changing hands. The stock had previously closed at C$28.43.

Wall Street Analysts Forecast Growth

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

ARC Resources Stock Up 0.9 %

The firm’s fifty day simple moving average is C$26.54 and its 200 day simple moving average is C$25.38. The company 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 company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05.

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.