CIBC Issues Pessimistic Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price target cut by research analysts at CIBC from C$35.00 to C$33.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 31.68% from the company’s previous close.

ARX has been the subject of a number of other research reports. Jefferies Financial Group upped their price objective on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. 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. UBS Group boosted their price objective on shares of ARC Resources from C$37.00 to C$39.00 in a report on Wednesday, March 26th. National Bankshares increased their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, TD Securities boosted their price target on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, February 7th. Seven investment 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 has a consensus rating of “Buy” and a consensus target price of C$32.58.

ARC Resources Price Performance

ARX opened at C$25.06 on Thursday. The company has a fifty day moving average price of C$26.55 and a two-hundred day moving average price of C$25.53. The firm has a market capitalization of C$14.75 billion, a PE ratio of 13.22, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$29.90. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

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.