ARC Resources (TSE:ARX) Price Target Raised to C$32.00

ARC Resources (TSE:ARX) had its price objective lifted by research analysts at BMO Capital Markets from C$30.00 to C$32.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 26.48% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group raised their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. National Bankshares raised their price target on ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. TD Securities upped their price objective on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank increased their target price on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Cormark raised ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$31.19.

ARC Resources Stock Performance

ARC Resources stock traded down C$0.09 during midday trading on Friday, hitting C$25.30. The stock had a trading volume of 428,326 shares, compared to its average volume of 2,011,746. ARC Resources has a 52-week low of C$19.08 and a 52-week high of C$27.40. The company has a market capitalization of C$15.08 billion, a PE ratio of 13.09, a P/E/G ratio of 0.29 and a beta of 1.26. The firm’s fifty day moving average is C$24.63 and its two-hundred day moving average is C$24.42. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

Insider Buying and Selling 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 on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. Company 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.