ARC Resources (TSE:ARX) Given New C$29.00 Price Target at Jefferies Financial Group

ARC Resources (TSE:ARX) had its target price boosted by Jefferies Financial Group from C$27.00 to C$29.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential upside of 15.31% from the stock’s current price.

Several other analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on ARC Resources from C$30.00 to C$32.00 in a report on Friday. CIBC increased their price objective on ARC Resources from C$33.00 to C$34.00 in a research report on Friday, November 8th. TD Securities boosted their target price on 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. Scotiabank raised their price target on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Nine 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 stock presently has a consensus rating of “Buy” and an average target price of C$31.35.

ARC Resources Stock Performance

Shares of TSE ARX traded down C$0.57 during trading hours on Monday, hitting C$25.15. 721,326 shares of the stock were exchanged, compared to its average volume of 2,012,113. The firm has a market capitalization of C$14.99 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.31 and a one year high of C$27.40. 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 company’s 50 day moving average is C$24.69 and its 200 day moving average is C$24.42.

Insider Activity

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

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.