UBS Group Increases ARC Resources (TSE:ARX) Price Target to C$33.00

ARC Resources (TSE:ARX) had its price target increased by equities research analysts at UBS Group from C$31.00 to C$33.00 in a research note issued to investors on Monday,BayStreet.CA reports. UBS Group’s target price would suggest a potential upside of 34.04% from the stock’s previous close.

Several other research firms have also recently commented on ARX. Scotiabank increased their price target on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. National Bankshares raised their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. TD Securities raised their price objective 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. Jefferies Financial Group dropped their price objective on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$31.04.

ARC Resources Price Performance

ARC Resources stock traded up C$0.22 during trading hours on Monday, hitting C$24.62. 574,961 shares of the stock were exchanged, compared to its average volume of 2,012,724. 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 stock has a market capitalization of C$14.68 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$27.40. The business’s 50-day moving average is C$24.42 and its two-hundred day moving average is C$24.43.

Insider Buying and Selling

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. 0.40% of the stock is currently owned by corporate 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.