ARC Resources (TSE:ARX) Price Target Raised to C$27.00 at ATB Capital

ARC Resources (TSE:ARX) had its target price hoisted by ATB Capital from C$26.00 to C$27.00 in a research report released on Friday, BayStreet.CA reports.

Several other research analysts have also recently issued reports on the stock. TD Securities raised their target price on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. Canaccord Genuity Group cut ARC Resources from a buy rating to a hold rating and boosted their price objective for the company from C$25.00 to C$27.00 in a report on Wednesday, April 17th. Cormark raised their target price on ARC Resources from C$32.00 to C$35.00 in a report on Friday, May 10th. Stifel Nicolaus boosted their price target on ARC Resources from C$29.00 to C$31.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Finally, CIBC upped their price objective on ARC Resources from C$30.00 to C$31.00 in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, ARC Resources presently has a consensus rating of Moderate Buy and an average target price of C$29.92.

ARC Resources Trading Down 0.9 %

TSE ARX opened at C$24.41 on Friday. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79. The company’s 50-day simple moving average is C$25.06 and its two-hundred day simple moving average is C$23.17. The company has a market capitalization of C$14.59 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. ARC Resources has a one year low of C$17.47 and a one year high of C$26.17.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 EPS for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). ARC Resources had a return on equity of 16.66% and a net margin of 22.74%. The firm had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.08 billion. Equities analysts forecast that ARC Resources will post 1.9710258 EPS for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.17 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.79%. ARC Resources’s dividend payout ratio (DPR) is 34.17%.

Insider Transactions at ARC Resources

In related news, Senior Officer Armin Jahangiri sold 24,343 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$25.47, for a total value of C$619,913.97. In other news, Senior Officer Larissa Marianne Conrad sold 17,395 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of C$25.65, for a total value of C$446,181.75. Also, Senior Officer Armin Jahangiri sold 24,343 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. Insiders sold 118,705 shares of company stock valued at $3,029,226 over the last 90 days. Corporate insiders own 0.38% 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.