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

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

A number of other equities research analysts have also recently weighed in on ARX. Raymond James reduced their price target 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 target price 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. ATB Capital dropped their price target on ARC Resources from C$27.00 to C$26.00 in a research note on Tuesday, January 2nd. Desjardins decreased their price objective on ARC Resources from C$29.50 to C$29.00 and set a buy rating for the company in a report on Friday, March 22nd. Finally, BMO Capital Markets raised their target price on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, ARC Resources presently has an average rating of Moderate Buy and a consensus target price of C$27.58.

ARC Resources Trading Down 1.5 %

ARX opened at C$25.07 on Wednesday. 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 one year low of C$15.41 and a one year high of C$26.17. The company has a market cap of C$14.98 billion, a P/E ratio of 9.61, a PEG ratio of 0.29 and a beta of 1.33. The business’s 50-day simple moving average is C$23.60 and its 200-day simple moving average is C$21.93.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$1.00 million for the quarter. As a group, equities research analysts expect that ARC Resources will post 2.0857143 EPS for the current fiscal year.

ARC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 annualized dividend and a yield of 2.71%. ARC Resources’s dividend payout ratio is presently 26.05%.

Insiders Place Their Bets

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