ARC Resources (TSE:ARX – Free Report) had its target price lifted by Desjardins from C$25.00 to C$26.00 in a research report report published on Monday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the oil and gas exploration company’s stock.
A number of other equities analysts have also commented on ARX. BMO Capital Markets lowered shares of ARC Resources from an outperform rating to a market perform rating and raised their price objective for the company from C$19.00 to C$20.00 in a research report on Thursday, July 13th. Veritas Investment Research reaffirmed a buy rating on shares of ARC Resources in a research note on Thursday, July 6th. Raymond James raised their target price on shares of ARC Resources from C$21.00 to C$26.00 and gave the company an outperform rating in a research note on Friday, September 8th. Canaccord Genuity Group set a C$22.50 target price on shares of ARC Resources and gave the company a buy rating in a research note on Friday, July 21st. Finally, TD Securities raised their target price on shares of ARC Resources from C$22.00 to C$23.00 and gave the company a buy rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$23.83.
ARC Resources Price Performance
ARC Resources (TSE:ARX – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas exploration company reported C$0.46 EPS for the quarter, beating analysts’ consensus estimates of C$0.38 by C$0.08. ARC Resources had a net margin of 34.31% and a return on equity of 37.72%. The company had revenue of C$1.21 billion during the quarter. As a group, sell-side analysts predict that ARC Resources will post 3.0607345 earnings per share for the current fiscal year.
ARC Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.17%. ARC Resources’s dividend payout ratio (DPR) is presently 17.66%.
Insider Buying and Selling
In related news, Senior Officer Sean Ross Allen Calder sold 19,172 shares of ARC Resources stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$21.39, for a total value of C$410,135.09. 0.23% of the stock is owned by insiders.
About ARC Resources
ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.
- Five stocks we like better than ARC Resources
- What is the NASDAQ Stock Exchange?
- 2 Recession-Proof Intelligence Stocks to Defend Your Portfolio
- How to Invest in Artificial Intelligence
- 5 Reasons Mullen Automotive is About to Turn a Corner
- How to Read Stock Charts for Beginners
- Qualcomm and Apple Forge Ahead with New Modem Partnership
Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.