ARC Resources (TSE:ARX) Price Target Raised to C$31.50 at Desjardins

ARC Resources (TSE:ARX) had its price objective raised by Desjardins from C$30.00 to C$31.50 in a research note published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities analysts have also issued reports on ARX. BMO Capital Markets increased their price target on ARC Resources from C$28.00 to C$30.00 in a research note on Friday, May 10th. CIBC raised their price objective on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Canaccord Genuity Group lowered ARC Resources from a buy rating to a hold rating and raised their price objective for the stock from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. Scotiabank raised their price objective on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Finally, National Bankshares raised their price objective on ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, ARC Resources presently has an average rating of Moderate Buy and an average target price of C$30.54.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$23.18 on Tuesday. The stock has a fifty day moving average price of C$24.58 and a two-hundred day moving average price of C$23.75. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79. The firm has a market cap of C$13.85 billion, a P/E ratio of 11.65, a PEG ratio of 0.29 and a beta of 1.32. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.17.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). The firm had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.08 billion. ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. Research analysts forecast that ARC Resources will post 1.9710258 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.17 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.93%. ARC Resources’s payout ratio is currently 34.17%.

Insider Activity

In other news, Senior Officer Armin Jahangiri sold 24,343 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$25.47, for a total value of C$619,913.97. In related news, Senior Officer Sean William Stuart sold 10,000 shares of the stock in a transaction 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 Armin Jahangiri sold 24,343 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$25.47, for a total value of C$619,913.97. Insiders sold 118,705 shares of company stock worth $3,029,226 over the last quarter. Corporate insiders own 0.38% 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.