Cormark Boosts ARC Resources (TSE:ARX) Price Target to C$35.00

ARC Resources (TSE:ARXFree Report) had its target price upped by Cormark from C$32.00 to C$35.00 in a report released on Friday, BayStreet.CA reports.

ARX has been the subject of several other reports. CIBC upped their price objective on ARC Resources from C$26.00 to C$30.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. National Bankshares upped their price objective on ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Stifel Nicolaus increased their price target on ARC Resources from C$29.00 to C$31.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. TD Securities increased their price target on ARC Resources from C$27.00 to C$29.00 in a research note on Friday. Finally, Raymond James cut their price target on ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of C$29.85.

Get Our Latest Research Report on ARX

ARC Resources Trading Up 0.6 %

TSE:ARX opened at C$25.66 on Friday. The company has a debt-to-equity ratio of 29.74, a current ratio of 0.91 and a quick ratio of 0.42. The firm has a market capitalization of C$15.34 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. ARC Resources has a one year low of C$16.24 and a one year high of C$26.17. The business has a fifty day moving average price of C$24.64 and a 200-day moving average price of C$22.40.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, March 27th. ARC Resources’s dividend payout ratio (DPR) is presently 26.05%.

Insider Buying and Selling at ARC Resources

In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction dated 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 related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Insiders own 0.38% of the company’s stock.

About ARC Resources

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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.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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