National Bankshares Issues Positive Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price target lifted by National Bankshares from C$32.00 to C$34.00 in a research report report published on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

Several other research firms have also recently issued reports on ARX. CIBC raised their target price on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Scotiabank lifted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. UBS Group lifted their price objective on ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Finally, TD Securities lifted their target price on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$32.04.

ARC Resources Trading Down 0.4 %

Shares of TSE:ARX opened at C$25.26 on Thursday. The business’s 50-day moving average is C$25.89 and its 200 day moving average is C$24.66. ARC Resources has a 1 year low of C$19.58 and a 1 year high of C$28.15. The firm has a market capitalization of C$15.06 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42.

ARC Resources (TSE:ARX) last announced its earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same quarter last year, the company posted $0.39 EPS. On average, research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.01%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is 35.23%.

Insider Activity

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. Company insiders own 0.40% 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.