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

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

A number of other research analysts also recently commented on the stock. CIBC raised their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, November 8th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Canaccord Genuity Group boosted their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. National Bankshares increased their target price on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target on ARC Resources from C$31.00 to C$33.00 in a report on Monday. Nine equities research 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.com, ARC Resources currently has an average rating of “Buy” and a consensus target price of C$31.19.

ARC Resources Stock Down 0.4 %

Shares of ARX traded down C$0.09 during midday trading on Friday, reaching C$25.30. 428,326 shares of the stock were exchanged, compared to its average volume of 2,011,746. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The company’s 50 day moving average is C$24.63 and its two-hundred day moving average is C$24.42. The company has a market capitalization of C$15.08 billion, a P/E ratio of 13.09, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 52 week low of C$19.08 and a 52 week high of C$27.40.

Insiders Place Their Bets

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction 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. 0.40% of the stock is owned by 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.