BMO Capital Markets Increases ARC Resources (TSE:ARX) Price Target to C$28.00

ARC Resources (TSE:ARX) had its target price raised by research analysts at BMO Capital Markets from C$25.00 to C$28.00 in a report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 15.27% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. National Bankshares decreased their target price on shares of ARC Resources from C$26.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Raymond James decreased their price objective on shares of ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Jefferies Financial Group set a C$28.00 price objective on shares of ARC Resources and gave the stock a “buy” rating in a research note on Tuesday, February 27th. CIBC cut their target price on shares of ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Finally, TD Securities boosted their price objective on ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ARC Resources has an average rating of “Buy” and an average price target of C$27.27.

ARC Resources Stock Up 1.3 %

TSE:ARX traded up C$0.30 during trading hours on Thursday, hitting C$24.29. 614,686 shares of the company traded hands, compared to its average volume of 1,796,881. ARC Resources has a one year low of C$14.83 and a one year high of C$24.31. The company has a market cap of C$14.50 billion, a PE ratio of 9.31, a PEG ratio of 0.29 and a beta of 1.31. The firm’s 50-day simple moving average is C$22.27 and its 200-day simple moving average is C$21.53. 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 posted its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating 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%. Equities analysts predict that ARC Resources will post 2.1692732 earnings per share for the current year.

Insider Activity at ARC Resources

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

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.