CIBC Raises ARC Resources (TSE:ARX) Price Target to C$35.00

ARC Resources (TSE:ARX) had its price objective hoisted by equities research analysts at CIBC from C$34.00 to C$35.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 31.98% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group upped their price objective on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. UBS Group increased their price target on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. TD Securities increased their price target on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group increased their price target on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. Finally, Cormark raised ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ARC Resources presently has an average rating of “Buy” and a consensus price target of C$31.42.

ARC Resources Stock Performance

ARX stock opened at C$26.52 on Friday. The stock has a market capitalization of C$15.81 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 12-month low of C$19.58 and a 12-month high of C$28.15. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The stock’s 50 day simple moving average is C$25.76 and its 200 day simple moving average is C$24.56.

Insiders Place Their Bets

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 value of C$828,360.57. 0.40% of the stock is currently owned by company 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.