National Bankshares Trims ARC Resources (TSE:ARX) Target Price to C$31.00

ARC Resources (TSE:ARX) had its price objective reduced by National Bankshares from C$32.00 to C$31.00 in a research report report published on Friday morning, BayStreet.CA reports.

Several other equities research analysts also recently issued reports on ARX. Scotiabank lifted their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Jefferies Financial Group reduced their price objective on shares of ARC Resources from C$30.00 to C$27.00 and set a buy rating on the stock in a research note on Monday, September 16th. ATB Capital boosted their target price on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Canaccord Genuity Group lifted their price target on ARC Resources from C$27.00 to C$29.00 and gave the stock a strong-buy rating in a research note on Friday, August 2nd. Finally, UBS Group cut their price objective on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Eleven research 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 stock presently has a consensus rating of Buy and a consensus target price of C$30.32.

ARC Resources Trading Up 1.4 %

TSE:ARX opened at C$22.86 on Friday. The business’s 50-day moving average is C$23.77 and its two-hundred day moving average is C$24.39. The firm has a market capitalization of C$13.63 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. 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 (TSE:ARX) last announced its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The business had revenue of C$1.15 billion for the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. Research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.97%. ARC Resources’s dividend payout ratio is presently 35.23%.

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.