Stifel Nicolaus Increases ARC Resources (TSE:ARX) Price Target to C$26.00

ARC Resources (TSE:ARXGet Rating) had its price target upped by Stifel Nicolaus from C$23.25 to C$26.00 in a research note published on Wednesday, BayStreet.CA reports.

A number of other equities analysts have also commented on ARX. CIBC cut their price objective on ARC Resources from C$28.00 to C$25.00 in a research note on Wednesday, July 13th. Raymond James set a C$22.00 price target on ARC Resources and gave the company an outperform rating in a research note on Friday, May 6th. BMO Capital Markets boosted their price target on ARC Resources from C$20.00 to C$22.00 in a research note on Friday, May 6th. Cormark boosted their price target on ARC Resources from C$27.00 to C$29.00 in a research note on Friday, July 29th. Finally, National Bankshares dropped their price target on ARC Resources from C$27.00 to C$26.00 and set an outperform rating on the stock in a research note on Friday, July 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$22.15.

ARC Resources Price Performance

ARC Resources stock opened at C$16.91 on Wednesday. The stock’s 50 day moving average is C$17.32 and its 200 day moving average is C$16.59. The company has a debt-to-equity ratio of 34.97, a current ratio of 0.44 and a quick ratio of 0.41. The firm has a market cap of C$11.22 billion and a P/E ratio of 7.83. ARC Resources has a one year low of C$7.51 and a one year high of C$22.88.

ARC Resources (TSE:ARXGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The oil and gas exploration company reported C$1.13 EPS for the quarter, topping analysts’ consensus estimates of C$0.86 by C$0.27. The company had revenue of C$2.37 billion during the quarter. As a group, research analysts expect that ARC Resources will post 2.841644 EPS for the current year.

Insider Transactions at ARC Resources

In other news, Senior Officer Ryan Victor Berrett sold 13,198 shares of the company’s stock in a transaction that occurred on Monday, May 30th. The stock was sold at an average price of C$19.54, for a total transaction of C$257,854.61. In related news, Senior Officer Ryan Victor Berrett sold 13,198 shares of the company’s stock in a transaction on Monday, May 30th. The stock was sold at an average price of C$19.54, for a total transaction of C$257,854.61. Also, Senior Officer Terry Michael Anderson sold 63,341 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of C$19.61, for a total value of C$1,241,806.64. Insiders have sold 110,893 shares of company stock valued at $2,228,663 over the last ninety days.

About ARC Resources

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ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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