ARC Resources (TSE:ARX) Given New C$34.00 Price Target at TD Securities

ARC Resources (TSE:ARX) had its price target raised by equities research analysts at TD Securities from C$33.00 to C$34.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. TD Securities’ price target suggests a potential upside of 30.52% from the company’s current price.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. UBS Group upped their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Jefferies Financial Group upped their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. CIBC increased their target price on shares of ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. Finally, Canaccord Genuity Group increased their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$32.29.

ARC Resources Stock Up 5.7 %

Shares of TSE ARX traded up C$1.40 during trading on Friday, reaching C$26.05. 1,650,071 shares of the stock were exchanged, compared to its average volume of 1,917,295. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The company has a market capitalization of C$15.53 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$20.12 and a twelve month high of C$28.15. The business’s 50-day moving average price is C$25.74 and its 200 day moving average price is C$24.67.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.34 by C$0.21. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, equities analysts forecast that ARC Resources will post 2.7255139 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

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.