ARC Resources (TSE:ARX) Price Target Cut to C$11.00 by Analysts at CIBC

ARC Resources (TSE:ARX) had its price target cut by CIBC from C$13.00 to C$11.00 in a research report sent to investors on Thursday, BayStreet.CA reports.

Other analysts have also issued reports about the stock. GMP Securities restated a buy rating and set a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. TD Securities upped their price target on shares of Champion Iron from C$3.50 to C$3.75 and gave the stock a buy rating in a research report on Friday, June 21st. National Bank Financial upped their price target on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the stock an outperform rating in a research report on Tuesday, July 16th. Raymond James reiterated a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $2.50 price target on shares of in a research report on Thursday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. ARC Resources has a consensus rating of Buy and an average price target of C$10.91.

Shares of TSE ARX opened at C$6.35 on Thursday. The firm’s 50 day simple moving average is C$6.70. The company has a debt-to-equity ratio of 26.10, a current ratio of 1.38 and a quick ratio of 0.95. The company has a market capitalization of $2.24 billion and a price-to-earnings ratio of 21.90. ARC Resources has a 12-month low of C$6.08 and a 12-month high of C$15.90.

ARC Resources (TSE:ARX) last announced its earnings results on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.25). The company had revenue of C$329.30 million for the quarter, compared to the consensus estimate of C$339.30 million. Analysts predict that ARC Resources will post 0.34 EPS for the current fiscal year.

The company also recently declared a jun 19 dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.05 dividend. The ex-dividend date was Thursday, June 27th. This represents a dividend yield of 8.63%. ARC Resources’s payout ratio is currently 206.90%.

About ARC Resources

ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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