ARC Resources (TSE:ARX) Given New C$32.00 Price Target at BMO Capital Markets

ARC Resources (TSE:ARX - Get Free Report) had its target price hoisted by equities research analysts at BMO Capital Markets from C$30.00 to C$32.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets' price target suggests a potential upside of 24.42% from the company's previous close.

Other research analysts have also issued research reports about the stock. TD Securities increased their target price on shares of 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. CIBC lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. 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. Scotiabank lifted their price objective on 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. Finally, National Bankshares increased their target price on ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$31.19.

ARC Resources Trading Up 1.3 %

Shares of TSE ARX traded up C$0.33 during midday trading on Friday, reaching C$25.72. 1,857,300 shares of the stock were exchanged, compared to its average volume of 2,017,793. The stock has a market capitalization of C$15.33 billion, a P/E ratio of 13.33, a PEG ratio of 0.29 and a beta of 1.26. 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 company has a 50 day simple moving average of C$24.69 and a 200 day simple moving average of C$24.42. ARC Resources has a twelve month low of C$19.08 and a twelve month high of C$27.40.

Insider Activity at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction 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.