ARC Resources (TSE:ARX – Get Free Report) had its target price raised by Jefferies Financial Group from C$28.00 to C$30.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 17.42% from the stock’s current price.
A number of other equities research analysts have also issued reports on ARX. Desjardins dropped their price target on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. ATB Capital decreased their price objective on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. BMO Capital Markets upped their price objective on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. CIBC decreased their price objective on ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Finally, Raymond James decreased their price objective on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$27.67.
Get Our Latest Analysis on ARC Resources
ARC Resources Price Performance
ARC Resources (TSE:ARX – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.50 by C$0.34. The business had revenue of C$1.00 million during the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. Equities research analysts anticipate that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other ARC Resources 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 transaction of C$193,273.87. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value 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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