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

ARC Resources (TSE:ARX) had its price target boosted by investment analysts at CIBC from C$34.00 to C$35.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 33.69% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group boosted their price objective on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. BMO Capital Markets upped their price target on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. UBS Group upped their price target on ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. National Bankshares upped their price target on ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Finally, TD Securities upped their price target on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$31.42.

ARC Resources Stock Performance

TSE ARX traded down C$0.01 on Friday, reaching C$26.18. The stock had a trading volume of 576,305 shares, 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. ARC Resources has a 12-month low of C$19.58 and a 12-month high of C$28.15. The business’s 50-day moving average price is C$25.73 and its 200 day moving average price is C$24.54. The stock has a market cap of C$15.61 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

Insider Transactions at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Insiders own 0.40% 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.