ARC Resources (TSE:ARX) Price Target Raised to C$31.00 at Stifel Nicolaus

ARC Resources (TSE:ARX) had its price objective increased by Stifel Nicolaus from C$29.00 to C$31.00 in a research note published on Tuesday, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company’s stock.

ARX has been the subject of several other reports. ATB Capital reduced their target price on ARC Resources from C$27.00 to C$26.00 in a research report on Tuesday, January 2nd. TD Securities raised their target price on 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. Raymond James reduced their target price on 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 cut ARC Resources from a buy rating to a hold rating and raised their target price for the stock from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. Finally, Desjardins reduced their target price on ARC Resources from C$29.50 to C$29.00 and set a buy rating for the company in a research report on Friday, March 22nd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, ARC Resources currently has an average rating of Moderate Buy and a consensus price target of C$28.75.

ARC Resources Trading Up 2.3 %

Shares of ARC Resources stock opened at C$25.82 on Tuesday. The company’s fifty day simple moving average is C$24.05 and its 200-day simple moving average is C$22.11. The company has a market cap of C$15.43 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.29 and a beta of 1.33. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. ARC Resources has a 1 year low of C$15.41 and a 1 year high of C$26.17.

ARC Resources (TSE:ARX) last announced 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, topping the consensus estimate 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%. As a group, sell-side analysts expect that ARC Resources will post 2.0857143 EPS for the current year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 annualized dividend and a yield of 2.63%. ARC Resources’s dividend payout ratio (DPR) is 26.05%.

Insider Buying and Selling

In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’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 ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s 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. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the business’s stock in a transaction dated 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. 0.07% of the stock is owned by corporate 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.