ARC Resources (TSE:ARX) Price Target Raised to C$33.00

ARC Resources (TSE:ARX) had its target price hoisted by National Bankshares from C$25.00 to C$33.00 in a research note issued to investors on Friday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the oil and gas exploration company’s stock.

Several other equities research analysts have also recently issued reports on the stock. TD Securities raised their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a buy rating in a research report on Friday, February 9th. Desjardins reduced their target price on shares of ARC Resources from C$29.50 to C$29.00 and set a buy rating on the stock in a research report on Friday, March 22nd. BMO Capital Markets boosted their target price on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. Canaccord Genuity Group cut shares of ARC Resources from a buy rating to a hold rating and boosted their target price for the stock from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group lifted 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 note on Friday, April 12th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of C$28.25.

ARC Resources Stock Performance

TSE:ARX opened at C$24.97 on Friday. The company has a market capitalization of C$14.92 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. ARC Resources has a twelve month low of C$15.41 and a twelve month high of C$26.17. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. The firm has a 50-day moving average price of C$23.76 and a two-hundred day moving average price of C$22.00.

ARC Resources (TSE:ARX) last issued 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 during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. As a group, research analysts expect that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given 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 2.72%. ARC Resources’s dividend payout ratio is presently 26.05%.

Insider Activity at ARC Resources

In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction dated 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. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction dated 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 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. 0.07% of the stock is currently owned by 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.