National Bankshares Raises ARC Resources (TSE:ARX) Price Target to C$34.00

ARC Resources (TSE:ARX) had its price target upped by National Bankshares from C$32.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the oil and gas exploration company’s stock. National Bankshares’ price target indicates a potential upside of 36.60% from the stock’s current price.

Other analysts also recently issued research reports about the company. Scotiabank raised their price target on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Canaccord Genuity Group boosted their price target on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. UBS Group upped their price target on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. TD Securities lifted their price objective on shares of ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, CIBC upped their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$32.04.

ARC Resources Stock Down 1.5 %

Shares of TSE:ARX opened at C$24.89 on Thursday. The company’s fifty day moving average is C$25.84 and its two-hundred day moving average is C$24.67. 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 1-year low of C$19.58 and a 1-year high of C$28.15. The stock has a market capitalization of C$14.84 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share for the quarter, topping the consensus estimate of C$0.34 by C$0.21. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. During the same quarter last year, the business earned $0.39 EPS. Equities analysts anticipate that ARC Resources will post 2.7255139 EPS for the current year.

Insider Activity at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’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. Company insiders own 0.40% of the company’s stock.

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.