ARC Resources (TSE:ARX) Price Target Raised to C$34.00

ARC Resources (TSE:ARX - Free Report) had its price target upped by National Bankshares from C$32.00 to C$34.00 in a research report released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company's stock.

Several other brokerages have also recently issued reports on ARX. 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. UBS Group boosted their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. TD Securities increased their target price on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. 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. Finally, Scotiabank increased their target price on ARC Resources from C$34.00 to C$35.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$32.04.

ARC Resources Stock Performance

Shares of TSE ARX remained flat at C$24.89 during mid-day trading on Thursday. 2,402,978 shares of the stock were exchanged, compared to its average volume of 1,944,983. ARC Resources has a 12-month low of C$19.58 and a 12-month high of C$28.15. The stock's 50 day moving average price is C$25.84 and its 200-day moving average price is C$24.67. The firm has a market cap of C$14.84 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88.

ARC Resources (TSE:ARX - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the firm earned $0.39 earnings per share. As a group, equities research analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.19 per share. This is a positive change from ARC Resources's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. ARC Resources's payout ratio is 35.23%.

Insider Buying and Selling at ARC Resources

In related 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 transaction of C$828,360.57. 0.40% of the stock is owned by corporate insiders.

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.