ARC Resources (TSE:ARX) Price Target Raised to C$31.50 at Desjardins

ARC Resources (TSE:ARX) had its target price upped by Desjardins from C$30.00 to C$31.50 in a research report released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also commented on ARX. UBS Group lowered their price target on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Canaccord Genuity Group cut shares of ARC Resources from a buy rating to a hold rating and boosted their price target for the stock from C$25.00 to C$27.00 in a report on Wednesday, April 17th. Scotiabank upped their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. Stifel Nicolaus lifted their target price on shares of ARC Resources from C$29.00 to C$31.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Finally, 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 report on Friday, April 12th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$30.54.

ARC Resources Trading Up 1.2 %

TSE:ARX opened at C$23.46 on Tuesday. 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 has a one year low of C$19.02 and a one year high of C$26.17. The company has a market cap of C$14.02 billion, a PE ratio of 11.79, a PEG ratio of 0.29 and a beta of 1.32. The firm has a 50-day moving average of C$24.53 and a 200-day moving average of C$23.77.

ARC Resources (TSE:ARX) last issued its quarterly earnings data 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). The company had revenue of C$1.31 billion for 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%. As a group, equities research analysts expect that ARC Resources will post 1.9710258 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.17 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.90%. ARC Resources’s payout ratio is 34.17%.

Insider Activity at ARC Resources

In related news, Senior Officer Armin Jahangiri sold 24,343 shares of ARC Resources stock in a transaction that occurred on 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 ARC Resources news, Senior Officer Armin Jahangiri sold 24,343 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of C$25.47, for a total value of C$619,913.97. Also, Senior Officer Larissa Marianne Conrad sold 17,395 shares of the company’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. In the last ninety days, insiders have sold 118,705 shares of company stock worth $3,029,226. 0.38% of the stock is owned by corporate 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.