ARC Resources (TSE:ARX) Price Target Raised to C$34.00 at TD Securities

ARC Resources (TSE:ARX) had its target price boosted by TD Securities from C$33.00 to C$34.00 in a research report report published on Friday morning,BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.

Several other research firms have also recently commented on ARX. BMO Capital Markets upped their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Canaccord Genuity Group increased their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Scotiabank boosted their price target 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. National Bankshares raised their price objective on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, CIBC boosted their price objective on ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ARC Resources has an average rating of “Buy” and a consensus price target of C$32.29.

ARC Resources Trading Up 5.1 %

ARC Resources stock opened at C$25.90 on Friday. ARC Resources has a 52 week low of C$20.12 and a 52 week high of C$28.15. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm has a market capitalization of C$15.44 billion, a PE ratio of 13.42, a PEG ratio of 0.29 and a beta of 1.26. The business’s 50-day simple moving average is C$25.74 and its 200-day simple moving average is C$24.67.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, topping 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 period in the prior year, the company posted $0.39 EPS. Equities research analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Increases Dividend

The business also recently disclosed 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 is a boost from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.93%. ARC Resources’s dividend payout ratio (DPR) is presently 35.23%.

Insider Transactions at ARC Resources

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

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.