BMO Capital Markets Increases ARC Resources (TSE:ARX) Price Target to C$32.00

ARC Resources (TSE:ARX) had its target price raised by equities research analysts at BMO Capital Markets from C$30.00 to C$32.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 24.42% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. CIBC lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Canaccord Genuity Group boosted their price objective on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Cormark raised ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. TD Securities lifted their target price 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. Finally, National Bankshares boosted their price target on ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$31.19.

ARC Resources Stock Up 1.3 %

ARX stock opened at C$25.72 on Friday. The business’s 50-day moving average price is C$24.69 and its 200-day moving average price is C$24.42. The stock has a market cap of C$15.33 billion, a P/E ratio of 13.33, a PEG ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a twelve month low of C$19.08 and a twelve month high of C$27.40.

Insider Transactions at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Company insiders own 0.40% 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.