ARC Resources Ltd. (TSE:ARX) Receives Average Rating of “Moderate Buy” from Brokerages

ARC Resources Ltd. (TSE:ARX) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$30.68.

A number of analysts have recently commented on ARX shares. CIBC boosted their price objective on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Scotiabank upped their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. Canaccord Genuity Group lifted their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Friday, August 2nd. UBS Group reduced their price target on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Finally, National Bankshares lifted their price objective on ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday, April 19th.

ARC Resources Trading Up 0.8 %

Shares of TSE:ARX opened at C$23.19 on Wednesday. ARC Resources has a 12-month low of C$19.02 and a 12-month high of C$26.17. The company has a market capitalization of C$13.86 billion, a PE ratio of 11.65, a PEG ratio of 0.29 and a beta of 1.32. The business has a 50 day moving average of C$24.23 and a two-hundred day moving average of C$23.92. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 29.15.

ARC Resources (TSE:ARX) last announced 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 company had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.08 billion. ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. As a group, analysts forecast that ARC Resources will post 1.9710258 EPS for the current year.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Friday, June 28th. ARC Resources’s dividend payout ratio (DPR) is currently 34.17%.

Insiders Place Their Bets

In other news, Director Hugh Hegeler Connett purchased 1,500 shares of the stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of C$18.88 per share, with a total value of C$28,315.95. In other news, Director Hugh Hegeler Connett purchased 1,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of C$18.88 per share, for a total transaction of C$28,315.95. Also, Senior Officer Sean William Stuart sold 10,000 shares of ARC Resources stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of C$25.51, for a total transaction of C$255,100.00. Insiders sold 118,705 shares of company stock valued at $3,029,226 in the last three months. 0.38% of the stock is currently owned by insiders.

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.