Brokerages Set ARC Resources Ltd. (TSE:ARX) Price Target at C$28.25

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$28.75.

Several research analysts recently weighed in on ARX shares. BMO Capital Markets upped their price objective on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. National Bankshares lifted their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. CIBC increased their target price on ARC Resources from C$26.00 to C$30.00 and gave the company an “outperform” rating in a research note on Monday. Canaccord Genuity Group downgraded ARC Resources from a “buy” rating to a “hold” rating and raised their price target for the company from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. Finally, Desjardins cut their price objective on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a report on Friday, March 22nd.

ARC Resources Stock Down 0.2 %

Shares of TSE:ARX opened at C$25.23 on Monday. The firm has a fifty day moving average price of C$23.98 and a two-hundred day moving average price of C$22.08. The company has a market cap of C$15.08 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.29 and a beta of 1.33. The company has a debt-to-equity ratio of 29.74, a current ratio of 0.91 and a quick ratio of 0.42. ARC Resources has a one year low of C$15.41 and a one year high of C$26.17.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.50 by C$0.34. The company had revenue of C$1.00 million during the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. Analysts anticipate that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 annualized dividend and a yield of 2.70%. ARC Resources’s payout ratio is currently 26.05%.

Insider Transactions at ARC Resources

In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction on 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 ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the business’s stock in a transaction that occurred on 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.