ATB Capital Increases ARC Resources (TSE:ARX) Price Target to C$27.00

ARC Resources (TSE:ARX) had its price objective increased by ATB Capital from C$26.00 to C$27.00 in a report published on Friday, BayStreet.CA reports.

Other equities analysts have also issued research reports about the company. BMO Capital Markets boosted their price objective on ARC Resources from C$28.00 to C$30.00 in a research note on Friday, May 10th. Jefferies Financial Group upped their price target on ARC Resources from C$28.00 to C$30.00 and gave the company a buy rating in a research note on Friday, April 12th. Canaccord Genuity Group lowered ARC Resources from a buy rating to a hold rating and upped their price target for the company from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. Desjardins upped their price target on ARC Resources from C$29.00 to C$30.00 and gave the company a buy rating in a research note on Monday, May 13th. Finally, Cormark upped their price target on ARC Resources from C$32.00 to C$35.00 in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of C$29.92.

ARC Resources Price Performance

Shares of ARX stock opened at C$24.41 on Friday. The stock’s fifty day simple moving average is C$25.05 and its 200 day simple moving average is C$23.26. The company has a debt-to-equity ratio of 29.15, a current ratio of 0.79 and a quick ratio of 0.42. The firm has a market cap of C$14.59 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.29 and a beta of 1.32. ARC Resources has a one year low of C$17.47 and a one year high of C$26.17.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, May 9th. The oil and gas exploration company reported C$0.31 EPS for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). The business had revenue of C$1.31 billion during the quarter, compared to analyst estimates 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 expect that ARC Resources will post 1.9710258 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.79%. ARC Resources’s dividend payout ratio (DPR) is currently 34.17%.

Insider Buying and Selling

In related news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$25.62, for a total transaction of C$447,595.38. In related news, Senior Officer Sean William Stuart sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of C$25.51, for a total transaction of C$255,100.00. Also, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total value of C$447,595.38. Over the last three months, insiders sold 118,705 shares of company stock worth $3,029,226. 0.38% of the stock is owned by corporate 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.