ARC Resources (TSE:ARX – Free Report) had its price objective upped by Scotiabank from C$33.00 to C$34.00 in a research report released on Friday morning, BayStreet.CA reports.
ARX has been the subject of a number of other research reports. Stifel Nicolaus lifted their price target on shares of ARC Resources from C$29.00 to C$31.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Desjardins lifted their price target on shares of ARC Resources from C$29.00 to C$30.00 and gave the stock a buy rating in a research note on Monday, May 13th. ATB Capital lifted their price target on shares of ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. UBS Group cut their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday. Finally, National Bankshares raised their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an outperform rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of C$30.21.
Check Out Our Latest Research Report on ARC Resources
ARC Resources Trading Down 0.3 %
ARC Resources (TSE:ARX – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). ARC Resources had a return on equity of 16.66% and a net margin of 22.74%. The firm had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. Equities research analysts anticipate that ARC Resources will post 1.9710258 EPS for the current fiscal year.
ARC Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.85%. ARC Resources’s dividend payout ratio (DPR) is 34.17%.
Insider Activity at ARC Resources
In related news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of ARC Resources stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total value of C$447,595.38. In other ARC Resources news, Senior Officer Ryan Victor Berrett sold 23,293 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$25.67, for a total transaction of C$597,961.59. Also, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$25.62, for a total transaction of C$447,595.38. Insiders have sold a total of 118,705 shares of company stock worth $3,029,226 in the last three months. Insiders own 0.38% 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.
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