ARC Resources (TSE:ARX) Given New C$31.00 Price Target at Stifel Nicolaus

ARC Resources (TSE:ARX) had its target price hoisted by Stifel Nicolaus from C$29.00 to C$31.00 in a research report report published on Tuesday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company’s stock.

Other equities research analysts have also issued reports about the stock. CIBC increased their price objective on shares of ARC Resources from C$26.00 to C$30.00 and gave the company an outperform rating in a report on Monday. National Bankshares lifted their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the company an outperform rating in a report on Friday, April 19th. Raymond James decreased their price objective on ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a report on Friday, January 19th. Desjardins dropped their target price on shares of ARC Resources from C$29.50 to C$29.00 and set a buy rating on the stock in a report on Friday, March 22nd. Finally, TD Securities upped their price target on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a buy rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of C$28.75.

ARC Resources Stock Up 1.4 %

Shares of ARC Resources stock opened at C$25.29 on Tuesday. ARC Resources has a 52-week low of C$15.41 and a 52-week high of C$26.17. The company has a 50-day simple moving average of C$23.90 and a two-hundred day simple moving average of C$22.06. The stock has a market capitalization of C$15.12 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.50 by C$0.34. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. The business had revenue of C$1.00 million during the quarter. On average, analysts anticipate that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 27th. ARC Resources’s dividend payout ratio (DPR) is presently 26.05%.

Insider Buying and Selling

In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. 0.07% of the stock is currently owned by company insiders.

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.