ARC Resources (TSE:ARX) PT Raised to C$31.00 at Stifel Nicolaus

ARC Resources (TSE:ARX) had its price objective increased by stock analysts at Stifel Nicolaus from C$29.00 to C$31.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 22.77% from the stock’s previous close.

Several other equities research analysts have also weighed in on ARX. Raymond James reduced their target price on 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. BMO Capital Markets increased their price target on ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. National Bankshares raised their price objective on ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Friday. 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. Finally, Jefferies Financial Group boosted their price objective on ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, ARC Resources has a consensus rating of “Moderate Buy” and an average target price of C$28.75.

ARC Resources Stock Up 1.2 %

ARX stock traded up C$0.31 during midday trading on Tuesday, reaching C$25.25. 1,319,848 shares of the company were exchanged, compared to its average volume of 1,898,176. The stock’s 50-day simple moving average is C$23.82 and its 200 day simple moving average is C$22.03. ARC Resources has a 1-year low of C$15.41 and a 1-year high of C$26.17. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91. The company has a market cap of C$15.09 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The company had revenue of C$1.00 million during the quarter. On average, equities analysts forecast that ARC Resources will post 2.0857143 earnings per share for the current year.

Insider Activity

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction 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. In related news, 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. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Insiders own 0.07% 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.