ARC Resources (TSE:ARX – Get Free Report) had its target price increased by analysts at Stifel Nicolaus from C$29.00 to C$31.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 22.87% from the stock’s current price.
ARX has been the subject of several other reports. Raymond James dropped their price objective on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. BMO Capital Markets raised their price objective on ARC Resources from C$25.00 to C$28.00 in a research note on Thursday, March 28th. Desjardins dropped their price objective on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. TD Securities raised their price target on ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, CIBC raised their price target on ARC Resources from C$26.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$28.75.
View Our Latest Stock Analysis on ARX
ARC Resources Stock Performance
ARC Resources (TSE:ARX – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, beating the consensus estimate of C$0.50 by C$0.34. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. The firm had revenue of C$1.00 million during the quarter. On average, equities analysts forecast that ARC Resources will post 2.0857143 EPS for the current year.
Insider Transactions at ARC Resources
In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Insiders own 0.07% 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.
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