ARC Resources (TSE:ARX – Get Free Report) had its price objective increased by investment analysts at Jefferies Financial Group from C$28.00 to C$30.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.32% from the stock’s previous close.
A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their price target on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. TD Securities boosted their price target on ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, February 9th. CIBC lowered their price target on ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Stifel Nicolaus boosted their price target on ARC Resources from C$25.00 to C$29.00 in a report on Friday, April 5th. Finally, ATB Capital lowered their target price on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$27.67.
Check Out Our Latest Stock Analysis on ARX
ARC Resources Trading Up 0.2 %
ARC Resources (TSE:ARX – Get Free Report) last released its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.50 by C$0.34. The firm had revenue of C$1.00 million for the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. Analysts forecast that ARC Resources will post 2.0024116 earnings per share for the current fiscal year.
Insider Activity at ARC Resources
In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. 0.07% of the stock is owned by insiders.
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.
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