ARC Resources (TSE:ARX) Price Target Raised to C$27.00

ARC Resources (TSE:ARX) had its price objective upped by equities researchers at ATB Capital from C$26.00 to C$27.00 in a report issued on Friday, BayStreet.CA reports. ATB Capital’s price target would suggest a potential upside of 10.61% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. TD Securities upped their price target on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. Jefferies Financial Group upped their price target 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. BMO Capital Markets upped their price target on shares of ARC Resources from C$28.00 to C$30.00 in a report on Friday, May 10th. CIBC upped their price objective on shares of ARC Resources from C$30.00 to C$31.00 in a research report on Friday, May 10th. Finally, National Bankshares upped their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$29.92.

ARC Resources Price Performance

Shares of ARX opened at C$24.41 on Friday. ARC Resources has a 1-year low of C$17.47 and a 1-year high of C$26.17. The company has a debt-to-equity ratio of 29.15, a current ratio of 0.79 and a quick ratio of 0.42. The firm has a market capitalization of C$14.59 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. The company’s fifty day moving average price is C$25.06 and its 200-day moving average price is C$23.20.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 EPS for the quarter, missing the consensus estimate of C$0.48 by C($0.17). ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. The business had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. On average, equities research analysts predict that ARC Resources will post 1.9710258 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Armin Jahangiri sold 24,343 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. In related news, Senior Officer Armin Jahangiri sold 24,343 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. Also, Director Hugh Hegeler Connett acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of C$18.88 per share, with a total value of C$28,315.95. Insiders sold a total of 118,705 shares of company stock worth $3,029,226 in the last 90 days. Insiders own 0.38% 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.