ARC Resources (TSE:ARX) Sets New 12-Month High – Still a Buy?

ARC Resources Ltd. (TSE:ARX) hit a new 52-week high on Wednesday . The company traded as high as C$32.75 and last traded at C$32.68, with a volume of 435277 shares. The stock had previously closed at C$32.45.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ARX shares. TD Securities lowered ARC Resources from a “strong-buy” rating to a “strong sell” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce lowered ARC Resources from a “neutral” rating to a “tender” rating and lifted their target price for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Scotiabank upgraded ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. BMO Capital Markets downgraded ARC Resources from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, Capital One Financial cut shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ARC Resources presently has an average rating of “Hold” and an average target price of C$30.35.

ARC Resources Stock Performance

The company has a debt-to-equity ratio of 43.61, a current ratio of 0.87 and a quick ratio of 0.42. The stock has a 50-day moving average price of C$31.12 and a 200-day moving average price of C$28.12. The company has a market capitalization of C$18.39 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.29 and a beta of -0.36.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.The business had revenue of C$2.10 billion for the quarter. As a group, analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

ARC Resources Company Profile

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.