ARC Resources (TSE:ARX) Stock Price Expected to Rise, UBS Group Analyst Says

ARC Resources (TSE:ARX) had its price objective raised by analysts at UBS Group from C$31.00 to C$33.00 in a report issued on Monday,BayStreet.CA reports. UBS Group’s price objective would suggest a potential upside of 32.69% from the company’s previous close.

A number of other research firms also recently weighed in on ARX. TD Securities lifted their price target on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC raised their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Finally, National Bankshares boosted their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$31.04.

ARC Resources Price Performance

Shares of TSE ARX opened at C$24.87 on Monday. The stock has a fifty day moving average price of C$24.50 and a 200 day moving average price of C$24.42. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$27.40. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company has a market cap of C$14.83 billion, a PE ratio of 12.89, a P/E/G ratio of 0.29 and a beta of 1.26.

Insider Transactions at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. 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.