ARC Resources (TSE:ARX) Price Target Raised to C$30.00

ARC Resources (TSE:ARX - Free Report) had its price objective lifted by Jefferies Financial Group from C$28.00 to C$30.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the oil and gas exploration company's stock.

ARX has been the topic of several other reports. BMO Capital Markets lifted their target price on ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. Stifel Nicolaus lifted their price target on shares of ARC Resources from C$25.00 to C$29.00 in a report on Friday, April 5th. ATB Capital reduced their price objective on shares of ARC Resources from C$27.00 to C$26.00 in a research note on Tuesday, January 2nd. Raymond James lowered their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Finally, Desjardins cut their price target on ARC Resources from C$29.50 to C$29.00 and set a buy rating for the company in a research note on Friday, March 22nd. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of C$27.67.

ARC Resources Stock Performance

Shares of TSE ARX traded down C$0.19 during midday trading on Friday, hitting C$25.55. 1,295,946 shares of the company's stock traded hands, compared to its average volume of 1,910,755. The firm has a fifty day moving average of C$23.19 and a 200 day moving average of C$21.82. ARC Resources has a 1 year low of C$15.41 and a 1 year high of C$26.17. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91. The stock has a market capitalization of C$15.25 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX - Get Free Report) last announced its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating analysts' consensus estimates of C$0.50 by C$0.34. The business had revenue of C$1.00 million during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. On average, analysts forecast that ARC Resources will post 2.0024116 earnings per share for the current year.

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.66%. The ex-dividend date is Wednesday, March 27th. ARC Resources's dividend payout ratio is presently 25.47%.

Insider Transactions at ARC Resources

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Insiders own 0.07% of the company's stock.

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.