Canaccord Genuity Group Lowers ARC Resources (TSE:ARX) to Hold

Canaccord Genuity Group cut shares of ARC Resources (TSE:ARX) from a buy rating to a hold rating in a report published on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has C$27.00 price target on the oil and gas exploration company’s stock, up from their prior price target of C$25.00.

Several other equities analysts have also recently issued reports on ARX. BMO Capital Markets lifted their price target on ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. Jefferies Financial Group upped their price target on shares of ARC Resources from C$28.00 to C$30.00 and gave the company a buy rating in a report on Friday, April 12th. Stifel Nicolaus lifted 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 dropped their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating on the stock in a report on Friday, January 19th. Finally, ATB Capital reduced their target price on shares of ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of C$27.58.

ARC Resources Stock Performance

Shares of ARX opened at C$25.07 on Wednesday. The firm has a market capitalization of C$14.98 billion, a PE ratio of 9.61, a P/E/G ratio of 0.29 and a beta of 1.33. The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74. The firm has a 50-day moving average price of C$23.60 and a 200 day moving average price of C$21.93. ARC Resources has a 52-week low of C$15.41 and a 52-week 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. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The business had revenue of C$1.00 million during the quarter. On average, sell-side analysts anticipate that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.17 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.71%. 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 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. In related news, 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 transaction of C$1,917,875.36. Also, 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 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.