CIBC Raises ARC Resources (TSE:ARX) Price Target to C$30.00

ARC Resources (TSE:ARX) had its price objective lifted by CIBC from C$26.00 to C$30.00 in a research report released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

Several other research analysts have also issued reports on ARX. Jefferies Financial Group increased their price target on shares of ARC Resources from C$28.00 to C$30.00 and gave the stock a buy rating in a research report on Friday, April 12th. Stifel Nicolaus increased their price target on shares of ARC Resources from C$25.00 to C$29.00 in a research report on Friday, April 5th. Raymond James dropped their price target on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a research report on Friday, January 19th. ATB Capital dropped their price target on shares of ARC Resources from C$27.00 to C$26.00 in a research report on Tuesday, January 2nd. Finally, National Bankshares increased their price target on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$28.75.

ARC Resources Stock Down 0.2 %

Shares of ARX opened at C$25.23 on Monday. The company has a 50-day simple moving average of C$23.98 and a 200-day simple moving average of C$22.08. The firm has a market capitalization of C$15.08 billion, a P/E ratio of 9.67, a P/E/G 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 has a 52 week low of C$15.41 and a 52 week high of C$26.17.

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

ARC Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.70%. ARC Resources’s payout ratio is presently 26.05%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’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. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. Insiders own 0.07% of the company’s stock.

ARC Resources Company Profile

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.