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

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

A number of other brokerages have also recently weighed in on ARX. Jefferies Financial Group lifted their target price on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. TD Securities lifted their price objective on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. CIBC increased their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. BMO Capital Markets lifted their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Finally, Scotiabank increased their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$32.04.

ARC Resources Price Performance

ARC Resources stock opened at C$24.89 on Thursday. The firm’s 50-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 current ratio of 0.88 and a quick ratio of 0.42. The stock has a market capitalization of C$14.84 billion, a P/E ratio of 12.90, a P/E/G 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.

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

Insiders Place Their Bets

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction that occurred 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 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.