Jefferies Financial Group Increases ARC Resources (TSE:ARX) Price Target to C$30.00

ARC Resources (TSE:ARX) had its target price upped by Jefferies Financial Group from C$28.00 to C$30.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities analysts also recently issued reports on ARX. ATB Capital lowered their price target on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Raymond James lowered their price target on ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a report on Friday, January 19th. National Bankshares lowered their price target on ARC Resources from C$26.00 to C$25.00 and set an outperform rating for the company in a report on Wednesday, January 10th. TD Securities upped their price target on ARC Resources from C$24.00 to C$25.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, BMO Capital Markets upped their price target on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of C$27.67.

ARC Resources Stock Down 1.4 %

ARX stock opened at C$25.19 on Friday. The company’s 50 day moving average price is C$23.39 and its 200 day moving average price is C$21.88. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91. ARC Resources has a fifty-two week low of C$15.41 and a fifty-two week high of C$26.17. The firm has a market capitalization of C$15.06 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The firm had revenue of C$1.00 million for the quarter. On average, equities research analysts anticipate that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s dividend payout ratio is currently 26.05%.

Insider Activity

In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Company insiders own 0.07% of the company’s stock.

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.