Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$31.88

Shares of ARC Resources Ltd. (TSE:ARX) have been given a consensus recommendation of “Buy” by the nine brokerages that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$31.88.

Several equities research analysts have commented on ARX shares. Jefferies Financial Group upped their price target on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. CIBC increased their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. TD Securities raised their price target on shares of ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th.

Insiders Place Their Bets

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Insiders own 0.40% of the company’s stock.

ARC Resources Trading Up 0.3 %

Shares of ARX stock opened at C$26.48 on Wednesday. The stock has a market cap of C$15.79 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a fifty-two week low of C$19.58 and a fifty-two week high of C$28.15. The business has a fifty day simple moving average of C$25.92 and a 200-day simple moving average of C$24.65.

ARC Resources (TSE:ARX) last posted 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 analysts’ consensus estimates 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 period last year, the company posted $0.39 EPS. On average, analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.87%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. 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.