ARC Resources (TSE:ARX) Downgraded by Canaccord Genuity Group

Canaccord Genuity Group cut shares of ARC Resources (TSE:ARX) from a buy rating to a hold rating in a research note published on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has C$27.00 price objective on the oil and gas exploration company’s stock, up from their previous price objective of C$25.00.

A number of other analysts also recently weighed in on the stock. TD Securities increased their target price on shares of ARC Resources from C$24.00 to C$25.00 and gave the company a buy rating in a research report on Friday, February 9th. CIBC decreased their target price on shares of ARC Resources from C$28.00 to C$26.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Raymond James reduced their price objective on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating for the company in a research report on Friday, January 19th. National Bankshares reduced their price objective on shares of ARC Resources from C$26.00 to C$25.00 and set an outperform rating for the company in a research report on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price objective on shares of ARC Resources from C$25.00 to C$29.00 in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$28.25.

ARC Resources Stock Performance

TSE:ARX opened at C$24.97 on Wednesday. The company has a market capitalization of C$14.92 billion, a PE ratio of 9.57, a P/E/G ratio of 0.29 and a beta of 1.33. The company has a 50 day simple moving average of C$23.76 and a two-hundred day simple moving average of C$21.98. 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.

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, beating analysts’ consensus estimates of C$0.50 by C$0.34. The business had revenue of C$1.00 million during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. Research analysts anticipate that ARC Resources will post 2.0857143 earnings per share for the current year.

ARC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.72%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s payout ratio is currently 26.05%.

Insider Activity at ARC Resources

In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction on Tuesday, February 27th. The shares were 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 firm’s 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. 0.07% of the stock is currently 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.