Shares of ARC Resources Ltd (TSE:ARX) have been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$21.75.
A number of brokerages recently weighed in on ARX. CSFB reduced their target price on ARC Resources from C$23.00 to C$21.00 in a report on Tuesday, November 14th. Raymond James Financial reduced their target price on ARC Resources from C$25.00 to C$24.50 and set a “strong-buy” rating on the stock in a report on Tuesday, November 14th. BMO Capital Markets reduced their price objective on ARC Resources from C$20.00 to C$19.00 in a research note on Tuesday, October 10th. National Bank Financial reduced their price objective on ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 9th. Finally, Eight Capital boosted their price objective on ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th.
In related news, Director Myron Maurice Stadnyk acquired 5,000 shares of ARC Resources stock in a transaction on Thursday, December 7th. The shares were bought at an average price of C$14.73 per share, for a total transaction of C$73,650.00. Also, insider Bevin Mark Wirzba bought 3,555 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of C$14.10 per share, for a total transaction of C$50,125.50. In the last 90 days, insiders have acquired 10,100 shares of company stock worth $148,326.
ARC Resources (TSE:ARX) last issued its earnings results on Thursday, November 9th. The oil and gas exploration company reported C$0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.08 by C$0.06. ARC Resources had a return on equity of 5.33% and a net margin of 18.86%.
The business also recently disclosed a feb 18 dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.05 per share. This represents a dividend yield of 0.0034965034965035%. The ex-dividend date of this dividend is Tuesday, January 30th. ARC Resources’s dividend payout ratio is presently 44.12%.
About ARC Resources
ARC Resources Ltd is a crude oil and natural gas company. It is engaged in the exploration, development and production of crude oil and natural gas in Canada with an emphasis on the development of properties with hydrocarbons in place, commonly referred to as resource plays. Its properties, North Pembina Cardium Unit No.
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