ARC Resources (TSE:ARX) PT Raised to C$31.00

ARC Resources (TSE:ARX) had its price target hoisted by equities research analysts at Stifel Nicolaus from C$29.00 to C$31.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 22.87% from the stock’s current price.

Several other brokerages have also recently issued reports on ARX. BMO Capital Markets upped their price objective on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. Desjardins cut their target price on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. National Bankshares boosted their target price on ARC Resources from C$25.00 to C$33.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Raymond James cut their target price on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, ATB Capital cut their target price on ARC Resources from C$27.00 to C$26.00 in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$28.75.

ARC Resources Stock Down 0.2 %

Shares of ARX opened at C$25.23 on Tuesday. The stock has a market capitalization of C$15.08 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. ARC Resources has a 1 year low of C$15.41 and a 1 year high of C$26.17. The business’s 50 day simple moving average is C$23.98 and its 200-day simple moving average is C$22.08. The company has a debt-to-equity ratio of 29.74, a current ratio of 0.91 and a quick ratio of 0.42.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.50 by C$0.34. The business had revenue of C$1.00 million for the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. As a group, equities analysts expect that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction on Monday, March 25th. The stock was 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 on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. 0.07% of the stock is currently owned by corporate insiders.

About ARC Resources

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.