ARC Resources (TSE:ARX) Price Target Raised to C$34.00 at National Bankshares

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

ARX has been the topic of a number of other research reports. CIBC lifted their price objective on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. TD Securities lifted their price objective on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Canaccord Genuity Group boosted their target price on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Finally, Scotiabank boosted their target price on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$32.04.

ARC Resources Stock Down 0.4 %

TSE ARX opened at C$25.26 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. ARC Resources has a 12 month low of C$19.58 and a 12 month high of C$28.15. The stock’s 50 day moving average is C$25.89 and its 200 day moving average is C$24.66. The stock has a market cap of C$15.06 billion, a PE ratio of 13.09, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business posted $0.39 EPS. Research analysts predict that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is presently 35.23%.

Insider Activity at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction 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 company 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.