ARC Resources (TSE:ARX) Price Target Raised to C$33.00 at National Bankshares

ARC Resources (TSE:ARX) had its price objective upped by stock analysts at National Bankshares from C$25.00 to C$33.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. National Bankshares’ price objective points to a potential upside of 32.26% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Desjardins cut their target price on shares of ARC Resources from C$29.50 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group increased their target price on shares of ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. TD Securities increased their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Raymond James cut their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Finally, CIBC cut their target price on shares of ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$28.25.

ARC Resources Trading Down 0.1 %

Shares of TSE:ARX traded down C$0.02 during trading on Friday, reaching C$24.95. The stock had a trading volume of 738,437 shares, compared to its average volume of 1,892,953. The firm’s fifty day moving average is C$23.69 and its 200 day moving average is C$21.95. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91. ARC Resources has a 52 week low of C$15.41 and a 52 week high of C$26.17. The stock has a market cap of C$14.91 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.29 and a beta of 1.33.

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 analysts’ consensus estimates of C$0.50 by C$0.34. The company had revenue of C$1.00 million for the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. As a group, equities analysts forecast that ARC Resources will post 2.0857143 EPS for the current fiscal year.

Insider Activity

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