Stifel Nicolaus Raises ARC Resources (TSE:ARX) Price Target to C$31.00

ARC Resources (TSE:ARX) had its target price boosted by Stifel Nicolaus from C$29.00 to C$31.00 in a research note released on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Desjardins lowered their price objective on shares of ARC Resources from C$29.50 to C$29.00 and set a buy rating for the company in a research report on Friday, March 22nd. 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. National Bankshares increased their target price on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a report on Friday, April 19th. Raymond James reduced 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, TD Securities increased their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a buy rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$28.75.

ARC Resources Stock Up 2.3 %

ARX opened at C$25.82 on Tuesday. ARC Resources has a twelve month low of C$15.41 and a twelve month high of C$26.17. The company has a market cap of C$15.43 billion, a PE ratio of 9.89, a price-to-earnings-growth 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 company has a 50-day moving average price of C$24.05 and a 200 day moving average price of C$22.11.

ARC Resources (TSE:ARX) last announced 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 company had revenue of C$1.00 million during the quarter. Sell-side analysts expect that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s dividend payout ratio (DPR) is 26.05%.

Insider Activity at ARC Resources

In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction 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 firm’s stock in a transaction 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. Insiders own 0.07% of the company’s stock.

ARC Resources Company Profile

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.