ARC Resources (TSE:ARX – Free Report) had its price target hoisted by ATB Capital from C$26.00 to C$27.00 in a research report sent to investors on Friday, BayStreet.CA reports.
A number of other equities analysts also recently issued reports on ARX. Stifel Nicolaus increased 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. Cormark increased their price target on shares of ARC Resources from C$32.00 to C$35.00 in a research note on Friday, May 10th. Desjardins increased 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. TD Securities raised their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Friday, May 10th. Finally, CIBC raised their target price on shares of ARC Resources from C$30.00 to C$31.00 in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, ARC Resources presently has an average rating of Moderate Buy and an average target price of C$29.92.
View Our Latest Report on ARC Resources
ARC Resources Stock Performance
ARC Resources (TSE:ARX – Get Free Report) last posted its earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). The firm had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.08 billion. ARC Resources had a return on equity of 16.66% and a net margin of 22.74%. Sell-side analysts expect that ARC Resources will post 1.9710258 EPS for the current year.
ARC Resources Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, June 28th. ARC Resources’s dividend payout ratio is currently 34.17%.
Insider Buying and Selling
In other ARC Resources news, Director Hugh Hegeler Connett purchased 1,500 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of C$18.88 per share, for a total transaction of C$28,315.95. In other ARC Resources news, Director Hugh Hegeler Connett purchased 1,500 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of C$18.88 per share, for a total transaction of C$28,315.95. Also, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of ARC Resources 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. Over the last quarter, insiders have sold 118,705 shares of company stock worth $3,029,226. 0.38% of the stock is owned by insiders.
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.
Recommended Stories
- Five stocks we like better than ARC Resources
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- Stock Market Upgrades: What Are They?
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What Are Dividend Champions? How to Invest in the Champions
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.