ARC Resources (TSE:ARX) Price Target Increased to C$30.00 by Analysts at CIBC

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

A number of other brokerages also recently issued reports on ARX. BMO Capital Markets increased their price target on ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. National Bankshares raised their price target on ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research report on Friday. Raymond James cut their price objective 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. Canaccord Genuity Group lowered shares of ARC Resources from a buy rating to a hold rating and raised their target price for the company from C$25.00 to C$27.00 in a report on Wednesday, April 17th. Finally, ATB Capital dropped their target price on shares of ARC Resources from C$27.00 to C$26.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, ARC Resources presently has a consensus rating of Moderate Buy and a consensus target price of C$28.58.

ARC Resources Stock Down 0.1 %

ARX stock opened at C$24.94 on Monday. ARC Resources has a fifty-two week low of C$15.41 and a fifty-two week high of C$26.17. The company has a debt-to-equity ratio of 29.74, a current ratio of 0.91 and a quick ratio of 0.42. The stock has a market capitalization of C$14.91 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.29 and a beta of 1.33. The business’s fifty day moving average price is C$23.82 and its two-hundred day moving average price is C$22.03.

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

ARC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, March 27th. ARC Resources’s dividend payout ratio is presently 26.05%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction that occurred on 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 other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction dated 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 dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. Company insiders own 0.07% of the company’s stock.

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.