ARC Resources (TSE:ARX) Price Target Raised to C$31.00

ARC Resources (TSE:ARXFree Report) had its target price increased by CIBC from C$30.00 to C$31.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

Other analysts have also issued reports about the company. Stifel Nicolaus boosted their price objective on ARC Resources from C$29.00 to C$31.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Cormark upped their target price on ARC Resources from C$32.00 to C$35.00 in a research note on Friday. National Bankshares upped their target price on ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Canaccord Genuity Group lowered ARC Resources from a buy rating to a hold rating and upped their target price for the stock from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. Finally, TD Securities upped their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$29.77.

Check Out Our Latest Research Report on ARX

ARC Resources Stock Performance

Shares of TSE:ARX traded up C$0.21 during midday trading on Friday, reaching C$25.72. 624,219 shares of the company traded hands, 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. ARC Resources has a 12 month low of C$16.24 and a 12 month high of C$26.17. The firm has a market capitalization of C$15.37 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The firm’s fifty day moving average price is C$24.60 and its two-hundred day moving average price is C$22.37.

ARC Resources (TSE:ARXGet Free Report) last released its quarterly earnings data 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. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. The company had revenue of C$1.00 million for the quarter. On average, equities analysts expect that ARC Resources will post 2.0708333 earnings per share for the current year.

ARC Resources Dividend Announcement

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

Insider Activity at ARC Resources

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

ARC Resources Company Profile

(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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