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

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

Several other equities analysts have also recently issued reports on the company. National Bankshares boosted their price objective on ARC Resources from C$25.00 to C$33.00 and gave the company an outperform rating in a report on Friday, April 19th. TD Securities boosted their price target on ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. Stifel Nicolaus lifted their target price on shares of ARC Resources from C$29.00 to C$31.00 and gave the company a buy rating in a report on Tuesday, April 23rd. CIBC boosted their target price on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Finally, Scotiabank raised their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, ARC Resources presently has an average rating of Moderate Buy and a consensus target price of C$30.54.

ARC Resources Stock Performance

ARX opened at C$23.46 on Tuesday. 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 has a 12-month low of C$19.02 and a 12-month high of C$26.17. The firm has a 50 day moving average of C$24.53 and a two-hundred day moving average of C$23.77. The firm has a market capitalization of C$14.02 billion, a PE ratio of 11.79, a P/E/G ratio of 0.29 and a beta of 1.32.

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 (EPS) for the quarter, missing the consensus estimate of C$0.48 by C($0.17). The business had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.08 billion. ARC Resources had a return on equity of 16.66% and a net margin of 22.74%. On average, analysts anticipate that ARC Resources will post 1.9710258 EPS for the current year.

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, June 28th. ARC Resources’s dividend payout ratio (DPR) is 34.17%.

Insider Transactions at ARC Resources

In other ARC Resources news, Senior Officer Armin Jahangiri sold 24,343 shares of the firm’s 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 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. Also, Director Hugh Hegeler Connett acquired 1,500 shares of the company’s stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of C$18.88 per share, for a total transaction of C$28,315.95. Insiders sold a total of 118,705 shares of company stock worth $3,029,226 over the last ninety days. Company 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.