ARC Resources (TSE:ARX) PT Lowered to C$32.00 at UBS Group

ARC Resources (TSE:ARXFree Report) had its price objective reduced by UBS Group from C$33.00 to C$32.00 in a report issued on Wednesday morning, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on ARC Resources from C$28.00 to C$30.00 and gave the company a buy rating in a research report on Friday, April 12th. BMO Capital Markets lifted their price objective on ARC Resources from C$28.00 to C$30.00 in a research note on Friday, May 10th. ATB Capital upped their target price on ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. TD Securities lifted their price target on ARC Resources from C$27.00 to C$29.00 in a research report on Friday, May 10th. Finally, Cormark raised their price objective on shares of ARC Resources from C$32.00 to C$35.00 in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$30.21.

Check Out Our Latest Research Report on ARX

ARC Resources Stock Performance

ARX opened at C$23.88 on Wednesday. The firm’s 50-day moving average price is C$24.93 and its 200-day moving average price is C$23.52. The company has a market cap of C$14.27 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 29.15. ARC Resources has a 52-week low of C$18.02 and a 52-week high of C$26.17.

ARC Resources (TSE:ARXGet Free Report) last issued 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). ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. The company had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.08 billion. As a group, equities analysts anticipate that ARC Resources will post 1.9710258 EPS for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, June 28th. This represents a $0.68 annualized dividend and a yield of 2.85%. ARC Resources’s dividend payout ratio is presently 34.17%.

Insiders Place Their Bets

In other news, Senior Officer Ryan Victor Berrett sold 23,293 shares of ARC Resources stock in a transaction on Friday, May 17th. The stock was sold at an average price of C$25.67, for a total transaction of C$597,961.59. In related news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of ARC Resources stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total value of C$447,595.38. Also, Senior Officer Ryan Victor Berrett sold 23,293 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of C$25.67, for a total value of C$597,961.59. Insiders have sold 118,705 shares of company stock valued at $3,029,226 in the last ninety days. 0.38% of the stock is currently owned by corporate 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.

See Also

Analyst Recommendations for ARC Resources (TSE:ARX)

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