ARC Resources (TSE:ARX) Downgraded by Canaccord Genuity Group to Hold

Canaccord Genuity Group downgraded shares of ARC Resources (TSE:ARX - Free Report) from a buy rating to a hold rating in a research note published on Wednesday morning, BayStreet.CA reports. They currently have C$27.00 price objective on the oil and gas exploration company's stock, up from their prior price objective of C$25.00.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group lifted their price objective on ARC Resources from C$28.00 to C$30.00 and gave the stock a buy rating in a report on Friday, April 12th. ATB Capital dropped their price target on shares of ARC Resources from C$27.00 to C$26.00 in a research note on Tuesday, January 2nd. Desjardins cut 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 report on Friday, March 22nd. TD Securities raised their price objective on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a buy rating in a report on Friday, February 9th. Finally, BMO Capital Markets boosted their target price on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of C$27.58.

ARC Resources Trading Down 1.5 %

ARX traded down C$0.39 during trading on Wednesday, hitting C$25.07. 2,211,474 shares of the company's stock were exchanged, compared to its average volume of 1,906,271. ARC Resources has a 1 year low of C$15.41 and a 1 year high of C$26.17. The stock has a 50 day moving average price of C$23.60 and a 200 day moving average price of C$21.93. The firm has a market cap of C$14.98 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74.

ARC Resources (TSE:ARX - Get Free Report) last posted its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (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 return on equity of 22.67% and a net margin of 28.23%. As a group, analysts expect that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.71%. ARC Resources's dividend payout ratio (DPR) is 26.05%.

Insider Buying and Selling

In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction 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. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company's stock in a transaction dated 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 dated 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. Insiders own 0.07% of the company's stock.

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.