ARC Resources (TSE:ARX) PT Lowered to C$27.00 at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price target reduced by Jefferies Financial Group from C$30.00 to C$27.00 in a report issued on Monday, BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.

Several other equities analysts also recently weighed in on ARX. CIBC lifted their target price on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Canaccord Genuity Group lifted their price objective on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a strong-buy rating in a research note on Friday, August 2nd. UBS Group dropped their target price on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Scotiabank lifted their price target on ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. Finally, Desjardins boosted their price objective on ARC Resources from C$30.00 to C$31.50 and gave the company a buy rating in a research note on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARC Resources presently has a consensus rating of Buy and an average price target of C$30.46.

ARC Resources Price Performance

Shares of TSE ARX opened at C$22.71 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The stock has a fifty day simple moving average of C$24.02 and a two-hundred day simple moving average of C$24.43. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$26.45. The firm has a market cap of C$13.54 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. The firm had revenue of C$1.15 billion for the quarter, compared to analysts’ expectations of C$1.03 billion. Analysts anticipate that ARC Resources will post 3.1763869 earnings per share for the current year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, September 27th. ARC Resources’s dividend payout ratio is currently 35.23%.

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.