Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$27.02

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been given a consensus recommendation of "Buy" by the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$27.27.

Several analysts have recently weighed in on the stock. Jefferies Financial Group set a C$28.00 target price on shares of ARC Resources and gave the company a "buy" rating in a research report on Tuesday, February 27th. BMO Capital Markets boosted their price target on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday. Desjardins reduced their price target on shares of ARC Resources from C$29.50 to C$29.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. National Bankshares reduced their price target on shares of ARC Resources from C$26.00 to C$25.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 10th. Finally, TD Securities boosted their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a "buy" rating in a research note on Friday, February 9th.

Insider Activity

In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction that occurred 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. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm's 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 transaction of C$1,917,875.36. 0.07% of the stock is currently owned by corporate insiders.

ARC Resources Stock Performance

ARX traded up C$0.16 during trading on Thursday, hitting C$24.15. The stock had a trading volume of 1,618,025 shares, compared to its average volume of 1,813,805. The firm has a market cap of C$14.41 billion, a PE ratio of 9.31, a P/E/G ratio of 0.29 and a beta of 1.31. ARC Resources has a 12 month low of C$14.83 and a 12 month high of C$24.31. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. The company has a 50 day simple moving average of C$22.27 and a 200-day simple moving average of C$21.53.

ARC Resources (TSE:ARX - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The company had revenue of C$1.00 million for the quarter. Analysts expect that ARC Resources will post 2.1692732 EPS for the current year.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, March 27th. ARC Resources's dividend payout ratio is currently 26.05%.

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.