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

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

Other equities research analysts have also recently issued research reports about the company. Cormark increased their target price on ARC Resources from C$32.00 to C$35.00 in a report on Friday, May 10th. CIBC increased their target price on ARC Resources from C$30.00 to C$31.00 in a research report on Friday, May 10th. BMO Capital Markets increased their target price on ARC Resources from C$28.00 to C$30.00 in a research report on Friday, May 10th. TD Securities raised their price objective on ARC Resources from C$27.00 to C$29.00 in a research report on Friday, May 10th. Finally, Jefferies Financial Group raised their price objective 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources presently has an average rating of Moderate Buy and an average price target of C$29.92.

ARC Resources Stock Performance

Shares of ARX stock opened at C$24.41 on Friday. The company has a market cap of C$14.59 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 29.15. The stock has a 50 day simple moving average of C$25.06 and a 200-day simple moving average of C$23.22. ARC Resources has a 12-month low of C$17.47 and a 12-month high of C$26.17.

ARC Resources (TSE:ARX) last released its quarterly 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 during the quarter, compared to analyst estimates of C$1.08 billion. ARC Resources had a return on equity of 16.66% and a net margin of 22.74%. On average, equities analysts forecast that ARC Resources will post 1.9710258 EPS for the current year.

ARC Resources Announces Dividend

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 issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.79%. ARC Resources’s dividend payout ratio (DPR) is presently 34.17%.

Insider Activity

In related news, Senior Officer Sean William Stuart sold 10,000 shares of the business’s 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. In related news, Senior Officer Lisa Ann Olsen sold 26,204 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of C$25.28, for a total transaction of C$662,473.81. Also, Senior Officer Sean William Stuart sold 10,000 shares of the company’s stock in a transaction 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. Over the last 90 days, insiders have sold 118,705 shares of company stock valued at $3,029,226. Insiders own 0.38% of the company’s stock.

About ARC Resources

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.