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

Shares of ARC Resources Ltd. (TSE:ARX) have received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$30.21.

Several research analysts have recently issued reports on ARX shares. CIBC upped their target price on shares of ARC Resources from C$30.00 to C$31.00 in a research note on Friday, May 10th. Canaccord Genuity Group downgraded shares of ARC Resources from a “buy” rating to a “hold” rating and increased their price objective for the company from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. National Bankshares increased 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 research report on Friday, April 19th. Cormark increased their price objective on shares of ARC Resources from C$32.00 to C$35.00 in a research report on Friday, May 10th. Finally, Scotiabank increased their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total transaction of C$447,595.38. In other news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total value of C$447,595.38. Also, Director Hugh Hegeler Connett bought 1,500 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of C$18.88 per share, with a total value of C$28,315.95. Insiders sold 118,705 shares of company stock worth $3,029,226 over the last 90 days. 0.38% of the stock is owned by insiders.

ARC Resources Trading Down 0.3 %

Shares of TSE ARX opened at C$23.88 on Friday. The firm’s 50 day moving average price is C$24.93 and its 200-day moving average price is C$23.52. The company has a market cap of C$14.27 billion, a PE ratio of 12.00, a P/E/G ratio of 0.29 and a beta of 1.32. ARC Resources has a 52-week low of C$18.02 and a 52-week high of C$26.17. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79.

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

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, June 28th. This represents a $0.68 annualized dividend and a yield of 2.85%. ARC Resources’s dividend payout ratio (DPR) is currently 34.17%.

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.