ARC Resources (TSE:ARX) PT Raised to C$34.00

ARC Resources (TSE:ARX) had its price objective upped by Scotiabank from C$33.00 to C$34.00 in a research note released on Friday, BayStreet.CA reports.

Several other equities research analysts have also commented on the company. National Bankshares boosted their price objective 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. Cormark boosted their target price on ARC Resources from C$32.00 to C$35.00 in a research report on Friday, May 10th. Desjardins lifted their price objective on shares of ARC Resources from C$29.00 to C$30.00 and gave the company a buy rating in a report on Monday, May 13th. Jefferies Financial Group upped their price objective on ARC Resources from C$28.00 to C$30.00 and gave the stock a buy rating in a research report on Friday, April 12th. Finally, Canaccord Genuity Group downgraded shares of ARC Resources from a buy rating to a hold rating and boosted their target price for the stock from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$30.43.

ARC Resources Stock Up 0.3 %

Shares of TSE ARX opened at C$23.95 on Friday. The stock has a market capitalization of C$14.31 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.29 and a beta of 1.32. The firm’s 50-day moving average price is C$24.90 and its 200-day moving average price is C$23.60. ARC Resources has a 12-month low of C$18.02 and a 12-month high of C$26.17. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 29.15.

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

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, June 28th. ARC Resources’s dividend payout ratio (DPR) is currently 34.17%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Ryan Victor Berrett sold 23,293 shares of the stock in a transaction dated 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 Ryan Victor Berrett sold 23,293 shares of ARC Resources stock in a transaction that occurred 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. Also, Senior Officer Armin Jahangiri sold 24,343 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of C$25.47, for a total transaction of C$619,913.97. In the last three months, insiders have sold 118,705 shares of company stock worth $3,029,226. Company 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.