TD Securities Boosts ARC Resources (TSE:ARX) Price Target to C$34.00

ARC Resources (TSE:ARX - Get Free Report) had its price target raised by equities research analysts at TD Securities from C$33.00 to C$34.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. TD Securities' price target would indicate a potential upside of 26.02% from the stock's current price.

A number of other brokerages have also issued reports on ARX. Canaccord Genuity Group boosted their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Scotiabank boosted 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 report on Wednesday, October 16th. National Bankshares boosted their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, BMO Capital Markets boosted their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$32.29.

ARC Resources Stock Performance

ARX stock traded up C$0.31 on Friday, reaching C$26.98. 2,711,407 shares of the company were exchanged, compared to its average volume of 2,077,162. ARC Resources has a 12 month low of C$20.82 and a 12 month high of C$28.15. The stock's fifty day moving average price is C$25.76 and its 200 day moving average price is C$24.69. The firm has a market capitalization of C$16.09 billion, a PE ratio of 13.98, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42.

Insider Buying and Selling

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction of C$828,360.57. 0.40% of the stock is 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.