ARC Resources Ltd. (TSE:ARX) Given Average Recommendation of “Moderate Buy” by Brokerages

ARC Resources Ltd. (TSE:ARXGet Free Report) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$29.92.

ARX has been the subject of a number of research reports. ATB Capital upped their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. Stifel Nicolaus increased their price objective on shares of ARC Resources from C$29.00 to C$31.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. National Bankshares lifted their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Jefferies Financial Group upped their target price on ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, BMO Capital Markets lifted their price target on ARC Resources from C$28.00 to C$30.00 in a report on Friday, May 10th.

View Our Latest Analysis on ARX

ARC Resources Stock Performance

ARC Resources stock opened at C$24.83 on Friday. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79. The company has a market capitalization of C$14.84 billion, a PE ratio of 12.48, a P/E/G ratio of 0.29 and a beta of 1.32. The company has a 50 day moving average price of C$25.02 and a 200-day moving average price of C$23.36. ARC Resources has a fifty-two week low of C$17.65 and a fifty-two week high of C$26.17.

ARC Resources (TSE:ARXGet Free Report) last issued its earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. The firm had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.08 billion. As a group, equities analysts forecast that ARC Resources will post 1.9710258 earnings per share for the current year.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 28th. ARC Resources’s payout ratio is currently 34.17%.

Insider Buying and Selling

In other news, Senior Officer Armin Jahangiri sold 24,343 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. In related news, Senior Officer Armin Jahangiri sold 24,343 shares of ARC Resources stock in a transaction dated Monday, June 10th. The stock was sold at an average price of C$25.47, for a total transaction of C$619,913.97. Also, Senior Officer Ryan Victor Berrett sold 23,293 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$25.67, for a total value of C$597,961.59. Insiders sold 118,705 shares of company stock worth $3,029,226 in the last three months. Corporate insiders own 0.38% of the company’s stock.

ARC Resources Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for ARC Resources (TSE:ARX)

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