CIBC Increases ARC Resources (TSE:ARX) Price Target to C$30.00

ARC Resources (TSE:ARX) had its price target increased by research analysts at CIBC from C$26.00 to C$30.00 in a report issued on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. CIBC’s target price points to a potential upside of 18.62% from the company’s previous close.

A number of other brokerages have also weighed in on ARX. Stifel Nicolaus lifted their price target on shares of ARC Resources from C$25.00 to C$29.00 in a report on Friday, April 5th. ATB Capital reduced their target price on shares of ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. TD Securities lifted their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, February 9th. Raymond James reduced their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Finally, Jefferies Financial Group lifted their target price on shares of ARC Resources from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$28.75.

ARC Resources Stock Up 1.4 %

Shares of ARX opened at C$25.29 on Monday. The firm has a market cap of C$15.12 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The company’s fifty day moving average is C$23.90 and its two-hundred day moving average is C$22.06. ARC Resources has a fifty-two week low of C$15.41 and a fifty-two week high of C$26.17. The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.50 by C$0.34. The company had revenue of C$1.00 million for the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. Analysts forecast that ARC Resources will post 2.0857143 earnings per share for the current year.

Insider Transactions at ARC Resources

In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Company insiders own 0.07% of the company’s stock.

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.