BMO Capital Markets Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its price target hoisted by BMO Capital Markets from C$30.00 to C$32.00 in a research report report published on Friday,BayStreet.CA reports.

ARX has been the subject of a number of other reports. Canaccord Genuity Group increased their target price on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Cormark upgraded ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Jefferies Financial Group dropped their price target on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research report on Monday, September 16th. UBS Group lifted their price target on ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Finally, National Bankshares raised their target price on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Nine 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.com, the company currently has a consensus rating of “Buy” and an average target price of C$31.19.

ARC Resources Stock Performance

Shares of ARX opened at C$25.72 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a 52-week low of C$19.08 and a 52-week high of C$27.40. The company has a 50-day simple moving average of C$24.69 and a 200-day simple moving average of C$24.42. The company has a market capitalization of C$15.33 billion, a PE ratio of 13.33, a P/E/G ratio of 0.29 and a beta of 1.26.

Insider Activity at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction on 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 currently owned by corporate insiders.

About ARC Resources

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.