Analysts Set ARC Resources Ltd. (TSE:ARX) PT at C$31.88

ARC Resources Ltd. (TSE:ARX) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$31.88.

A number of equities analysts recently weighed in on ARX shares. Canaccord Genuity Group lifted their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. UBS Group lifted their price objective on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. National Bankshares increased their target price on ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their price target on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th.

ARC Resources Stock Performance

Shares of ARC Resources stock opened at C$26.48 on Wednesday. The stock has a market capitalization of C$15.79 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.29 and a beta of 1.26. The firm’s fifty day simple moving average is C$25.92 and its 200-day simple moving average is C$24.65. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. ARC Resources has a 12 month low of C$19.58 and a 12 month high of C$28.15.

ARC Resources (TSE:ARX) last announced its earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share for the quarter, topping the consensus estimate of C$0.34 by C$0.21. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, equities analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 2.87%. ARC Resources’s dividend payout ratio (DPR) is 35.23%.

Insider Activity at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. Insiders own 0.40% 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.