ARC Resources (TSE:ARX) Price Target Raised to C$29.00

ARC Resources (TSE:ARXFree Report) had its price target increased by TD Securities from C$27.00 to C$29.00 in a research report report published on Friday, BayStreet.CA reports.

ARX has been the topic of several other research reports. National Bankshares increased their price target on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research report on Friday, April 19th. CIBC raised their target price on shares of ARC Resources from C$26.00 to C$30.00 and gave the company an outperform rating in a report on Monday, April 22nd. BMO Capital Markets raised their target price on shares of ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of ARC Resources from C$28.00 to C$30.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, Canaccord Genuity Group cut shares of ARC Resources from a buy rating to a hold rating and raised their target price for the company from C$25.00 to C$27.00 in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, ARC Resources has a consensus rating of Moderate Buy and a consensus price target of C$29.77.

Check Out Our Latest Stock Report on ARX

ARC Resources Trading Up 0.8 %

ARX stock traded up C$0.21 during mid-day trading on Friday, hitting C$25.72. 624,219 shares of the company were exchanged, compared to its average volume of 1,912,219. The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74. The firm has a market capitalization of C$15.37 billion, a P/E ratio of 9.77, a PEG ratio of 0.29 and a beta of 1.33. The business has a fifty day simple moving average of C$24.60 and a 200-day simple moving average of C$22.37. ARC Resources has a 12-month low of C$16.24 and a 12-month high of C$26.17.

ARC Resources (TSE:ARXGet Free Report) last announced its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, topping the consensus estimate of C$0.50 by C$0.34. The company had revenue of C$1.00 million during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. On average, equities research analysts predict that ARC Resources will post 2.0708333 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.17 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.68 annualized dividend and a yield of 2.64%. ARC Resources’s dividend payout ratio is currently 26.05%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s 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. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s 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. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. 0.38% of the stock is currently owned by corporate insiders.

About ARC Resources

(Get Free Report)

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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Analyst Recommendations for ARC Resources (TSE:ARX)

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