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

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

A number of other equities analysts have also recently issued reports on ARX. BMO Capital Markets upped their price target on shares of ARC Resources from C$28.00 to C$30.00 in a research note on Friday, May 10th. Canaccord Genuity Group cut shares of ARC Resources from a buy rating to a hold rating and upped their target price for the company from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. Cormark upped their target price on shares of ARC Resources from C$32.00 to C$35.00 in a research note on Friday, May 10th. TD Securities upped their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Friday, May 10th. Finally, Desjardins upped their target price on shares of ARC Resources from C$29.00 to C$30.00 and gave the company a buy rating in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, ARC Resources has an average rating of Moderate Buy and a consensus target price of C$29.92.

ARC Resources Stock Performance

Shares of ARC Resources stock opened at C$24.41 on Friday. The stock has a market cap of C$14.59 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.29 and a beta of 1.32. The firm’s 50-day moving average is C$25.06 and its 200 day moving average is C$23.22. ARC Resources has a 1 year low of C$17.47 and a 1 year high of C$26.17. The company has a debt-to-equity ratio of 29.15, a current ratio of 0.79 and a quick ratio of 0.42.

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

ARC Resources Dividend Announcement

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

Insider Activity

In related news, Senior Officer Sean William Stuart sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of C$25.51, for a total value of C$255,100.00. In other news, Director Hugh Hegeler Connett bought 1,500 shares of ARC Resources stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of C$18.88 per share, with a total value of C$28,315.95. Also, Senior Officer Sean William Stuart sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of C$25.51, for a total transaction of C$255,100.00. Insiders sold 118,705 shares of company stock valued at $3,029,226 in the last quarter. 0.38% of the stock is currently owned by insiders.

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.