ARC Resources (TSE:ARX) Stock Price Expected to Rise, TD Securities Analyst Says

ARC Resources (TSE:ARX) had its price target lifted by TD Securities from C$33.00 to C$34.00 in a research report report published on Friday,BayStreet.CA reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

ARX has been the subject of several other reports. Jefferies Financial Group boosted their price objective on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. CIBC boosted their price target on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Scotiabank raised their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group upped their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets increased their price target on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$32.29.

ARC Resources Stock Performance

Shares of ARC Resources stock opened at C$25.90 on Friday. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a 50 day simple moving average of C$25.74 and a 200 day simple moving average of C$24.67. ARC Resources has a fifty-two week low of C$20.12 and a fifty-two week high of C$28.15. The firm has a market cap of C$15.44 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last released its earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, beating the consensus estimate of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same period in the previous year, the company posted $0.39 earnings per share. Sell-side analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.93%. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is presently 35.23%.

Insiders Place Their Bets

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s 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 value of C$828,360.57. Corporate 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.