ARC Resources (TSE:ARX) Price Target Increased to C$33.00 by Analysts at National Bankshares

ARC Resources (TSE:ARX) had its price objective hoisted by National Bankshares from C$25.00 to C$33.00 in a report published on Friday, BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus upped their price objective on shares of ARC Resources from C$25.00 to C$29.00 in a research note on Friday, April 5th. Raymond James decreased their target price 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. Jefferies Financial Group boosted their target price on shares of ARC Resources from C$28.00 to C$30.00 and gave the stock a buy rating in a research report on Friday, April 12th. 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. Finally, Canaccord Genuity Group downgraded 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. One research 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, ARC Resources presently has an average rating of Moderate Buy and an average price target of C$28.25.

ARC Resources Price Performance

ARC Resources stock opened at C$24.97 on Friday. The firm has a market cap of C$14.92 billion, a PE ratio of 9.57, a P/E/G ratio of 0.29 and a beta of 1.33. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91. The firm’s 50 day moving average price is C$23.76 and its two-hundred day moving average price is C$21.98. ARC Resources has a twelve month low of C$15.41 and a twelve month high of C$26.17.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, beating the consensus estimate of C$0.50 by C$0.34. The firm 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, research analysts predict that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.72%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s payout ratio is currently 26.05%.

Insider Activity

In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction 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. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. Corporate insiders own 0.07% 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.