Jefferies Financial Group Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its price target increased by equities researchers at Jefferies Financial Group from C$27.00 to C$29.00 in a research note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential upside of 18.95% from the company’s previous close.

A number of other research analysts have also commented on ARX. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. National Bankshares upped their target price on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. BMO Capital Markets increased their target price on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Scotiabank boosted their price target on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group increased their price objective on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$31.35.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$24.38 on Monday. ARC Resources has a 12 month low of C$19.31 and a 12 month high of C$27.40. The company has a market capitalization of C$14.54 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.29 and a beta of 1.26. The stock has a 50 day moving average of C$24.71 and a 200-day moving average of C$24.41. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction dated Thursday, November 21st. The stock was 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.