ARC Resources (TSE:ARX) PT Lowered to C$27.00 at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price objective reduced by Jefferies Financial Group from C$30.00 to C$27.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.

ARX has been the subject of a number of other reports. UBS Group decreased their target price on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Desjardins upped their target price on ARC Resources from C$30.00 to C$31.50 and gave the stock a buy rating in a research report on Tuesday, July 23rd. ATB Capital lifted their price target on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. CIBC boosted their price target on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Finally, Scotiabank raised their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources presently has an average rating of Buy and an average target price of C$30.46.

ARC Resources Stock Performance

Shares of ARX stock opened at C$22.71 on Monday. The firm has a 50 day moving average of C$24.02 and a 200-day moving average of C$24.43. The company has a market cap of C$13.54 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a 52 week low of C$19.02 and a 52 week high of C$26.45.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The business had revenue of C$1.15 billion during the quarter, compared to analysts’ expectations of C$1.03 billion. On average, equities analysts forecast that ARC Resources will post 3.1763869 earnings per share for the current year.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, September 27th. ARC Resources’s payout ratio is 35.23%.

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.