ARC Resources (TSE:ARX) Price Target Raised to C$35.00 at CIBC

by · The Cerbat Gem

ARC Resources (TSE:ARX – Get Free Report) had its target price increased by analysts at CIBC from C$34.00 to C$35.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 33.69% from the stock’s current price.

Several other research firms have also recently commented on ARX. TD Securities raised their price target on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, National Bankshares lifted their target price on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ARC Resources has an average rating of “Buy” and an average target price of C$31.42.

Check Out Our Latest Stock Report on ARX

ARC Resources Stock Down 0.0 %

Shares of ARX stock traded down C$0.01 during trading on Friday, hitting C$26.18. 576,305 shares of the company were exchanged, compared to its average volume of 2,109,501. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm has a market capitalization of C$15.61 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.29 and a beta of 1.26. The business’s 50-day simple moving average is C$25.73 and its 200 day simple moving average is C$24.54. ARC Resources has a twelve month low of C$19.58 and a twelve month high of C$28.15.

Insider Buying and Selling

In related 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. 0.40% of the stock is currently owned by insiders.

ARC Resources Company Profile

(Get Free Report)

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.

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