ARC Resources (TSE:ARX) Price Target Increased to C$30.00 by Analysts at CIBC

ARC Resources (TSE:ARX) had its price objective upped by CIBC from C$26.00 to C$30.00 in a report published on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other research analysts have also recently issued reports on ARX. Canaccord Genuity Group cut shares of ARC Resources from a buy rating to a hold rating and lifted their price objective for the company from C$25.00 to C$27.00 in a report on Wednesday, April 17th. Raymond James reduced their price objective on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a report on Friday, January 19th. Stifel Nicolaus lifted their price objective on shares of ARC Resources from C$25.00 to C$29.00 in a report on Friday, April 5th. TD Securities lifted their price objective on shares of ARC Resources from C$24.00 to C$25.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, ATB Capital reduced their price objective on shares of ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, ARC Resources currently has a consensus rating of Moderate Buy and a consensus price target of C$28.75.

ARC Resources Trading Down 0.2 %

TSE ARX opened at C$25.23 on Monday. 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 52 week low of C$15.41 and a 52 week high of C$26.17. The business has a 50 day moving average price of C$23.98 and a 200-day moving average price of C$22.08. The company has a market cap of C$15.08 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX) 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 the consensus estimate of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The business had revenue of C$1.00 million during the quarter. As a group, equities analysts expect that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 annualized dividend and a yield of 2.70%. ARC Resources’s dividend payout ratio is currently 26.05%.

Insider Buying and Selling at ARC Resources

In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s stock in a transaction dated 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 ARC Resources stock in a transaction dated 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 business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Corporate insiders own 0.07% 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.