ARC Resources (TSE:ARX) Price Target Raised to C$33.00 at National Bankshares

ARC Resources (TSE:ARX) had its price objective upped by National Bankshares from C$25.00 to C$33.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. National Bankshares’ target price points to a potential upside of 32.26% from the company’s previous close.

A number of other equities analysts have also commented on the stock. CIBC decreased their price objective on shares of ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Desjardins decreased their price objective on shares of ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus raised their price objective on shares of ARC Resources from C$25.00 to C$29.00 in a research note on Friday, April 5th. Raymond James cut their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, TD Securities increased their target price on shares of 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, ARC Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$28.25.

ARC Resources Stock Performance

ARX traded down C$0.02 on Friday, hitting C$24.95. 738,437 shares of the company’s stock were exchanged, compared to its average volume of 1,892,953. The stock has a fifty day moving average of C$23.69 and a two-hundred day moving average of C$21.95. ARC Resources has a twelve month low of C$15.41 and a twelve month high of C$26.17. The firm has a market cap of C$14.91 billion, a PE ratio of 9.57, a P/E/G ratio of 0.29 and a beta of 1.33. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74.

ARC Resources (TSE:ARX) last posted 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. The business had revenue of C$1.00 million during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. On average, research analysts anticipate that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. Company 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.