The stock of ARC Resources Ltd (TSE:ARX) hit a new 52-week high and has $36.98 target or 50.00% above today’s $24.65 share price. The 5 months bullish chart indicates low risk for the $8.93 billion company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $36.98 price target is reached, the company will be worth $4.47 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 68,489 shares traded hands. ARC Resources Ltd (TSE:ARX) has risen 29.21% since March 14, 2016 and is uptrending. It has outperformed by 23.67% the S&P500.
ARC Resources Ltd (TSE:ARX) Ratings Coverage
Out of 5 analysts covering ARC Resources (TSE:ARX), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $32 is the highest target while $19.50 is the lowest. The $25.94 average target is 5.23% above today’s ($24.65) stock price. ARC Resources has been the topic of 23 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Outperform” rating and $26 target price in Friday, July 29 report. The stock of ARC Resources Ltd (TSE:ARX) earned “Outperform” rating by National Bank Canada on Thursday, November 19. The stock has “Outperform” rating given by IBC on Wednesday, June 15. The stock of ARC Resources Ltd (TSE:ARX) has “Hold” rating given on Friday, July 29 by TD Securities. The stock has “” rating given by Raymond James on Monday, June 6.
More recent ARC Resources Ltd (TSE:ARX) news were published by: Marketwatch.com which released: “ARC Resources Ltd. Confirms November 15, 2016 Dividend Amount” on October 17, 2016. Also Bloomberg.com published the news titled: “ARC Resources Said to Hire RBC for Sale of Saskatchewan Assets” on September 21, 2016. Fool.ca‘s news article titled: “3 Reasons Why Arc Resources Ltd. Is the Top Energy Stock to Buy Today” with publication date: April 16, 2015 was also an interesting one.
ARC Resources Ltd. is a Canada-based gas and oil company. The company has a market cap of $8.93 billion. The Company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in over five areas across western Canada. It currently has negative earnings. The Firm is focused on the acquisition and development of resource-rich properties that provide an option for both near-term and long-term growth.
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