ARC Resources (TSE:ARX) Given New C$35.00 Price Target at CIBC

ARC Resources (TSE:ARX) had its target price lifted by stock analysts at CIBC from C$34.00 to C$35.00 in a report released on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 31.98% from the stock’s previous close.

Several other analysts also recently issued reports on ARX. Canaccord Genuity Group raised their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. National Bankshares raised their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Finally, TD Securities raised 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 report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ARC Resources presently has a consensus rating of “Buy” and an average target price of C$31.42.

ARC Resources Stock Up 1.3 %

Shares of TSE:ARX opened at C$26.52 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. ARC Resources has a 12 month low of C$19.58 and a 12 month high of C$28.15. The company has a 50-day moving average price of C$25.76 and a 200 day moving average price of C$24.56. The company has a market cap of C$15.81 billion, a price-to-earnings ratio of 13.74, a PEG 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 ARC Resources stock in a transaction on Thursday, November 21st. The shares were 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.