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

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

ARX has been the topic of a number of other research reports. National Bankshares lifted their price target on shares of ARC Resources from C$25.00 to C$33.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group cut ARC Resources from a “buy” rating to a “hold” rating and upped their price target for the company from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. ATB Capital cut their price objective on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. TD Securities increased their price objective on ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, CIBC raised their price target on ARC Resources from C$26.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, ARC Resources has an average rating of “Moderate Buy” and a consensus target price of C$28.75.

ARC Resources Stock Performance

Shares of ARC Resources stock traded up C$0.31 during trading hours on Tuesday, reaching C$25.25. The company’s stock had a trading volume of 1,319,848 shares, compared to its average volume of 1,898,176. The stock has a market cap of C$15.09 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The company’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 one year low of C$15.41 and a one 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.

ARC Resources (TSE:ARX) last announced 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, topping the consensus estimate 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, analysts expect that ARC Resources will post 2.0857143 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction that occurred on 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. 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 business’s stock in a transaction that occurred 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.