ARC Resources (TSE:ARX) PT Lowered to C$27.00 at Jefferies Financial Group

ARC Resources (TSE:ARX) had its target price reduced by Jefferies Financial Group from C$30.00 to C$27.00 in a research note released on Monday, BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.

A number of other brokerages have also issued reports on ARX. Canaccord Genuity Group lifted their price target on ARC Resources from C$27.00 to C$29.00 and gave the stock a strong-buy rating in a research note on Friday, August 2nd. Scotiabank increased their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. UBS Group dropped their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. ATB Capital boosted their target price on ARC Resources from C$26.00 to C$27.00 in a report on Friday, June 28th. Finally, CIBC increased their price target on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$30.46.

ARC Resources Stock Up 1.7 %

Shares of ARX opened at C$23.10 on Monday. The firm has a market cap of C$13.77 billion, a P/E ratio of 11.97, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The stock’s 50 day moving average is C$23.97 and its two-hundred day moving average is C$24.43. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The company had revenue of C$1.15 billion during the quarter, compared to analyst estimates of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. Analysts predict that ARC Resources will post 3.2027972 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, September 27th. ARC Resources’s dividend payout ratio is presently 35.23%.

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.