ARC Resources (TSE:ARX) Price Target Increased to C$31.00 by Analysts at CIBC

ARC Resources (TSE:ARX) had its price target lifted by CIBC from C$30.00 to C$31.00 in a research report sent to investors on Friday, BayStreet.CA reports.

A number of other brokerages have also recently commented on ARX. Desjardins decreased their target price on shares of ARC Resources from C$29.50 to C$29.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Jefferies Financial Group boosted their price objective on shares of ARC Resources from C$28.00 to C$30.00 and gave the company a buy rating in a research report on Friday, April 12th. Cormark boosted their price objective on shares of ARC Resources from C$32.00 to C$35.00 in a research report on Friday. National Bankshares boosted their price objective on shares of ARC Resources from C$25.00 to C$33.00 and gave the company an outperform rating in a research report on Friday, April 19th. Finally, Raymond James decreased their price objective on shares of ARC Resources from C$27.00 to C$26.00 and set an outperform rating on the stock in a research report on Friday, January 19th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$29.85.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$25.66 on Friday. The stock has a market cap of C$15.34 billion, a PE ratio of 9.83, a PEG ratio of 0.29 and a beta of 1.33. The company’s fifty day moving average is C$24.64 and its 200 day moving average is C$22.40. ARC Resources has a 52 week low of C$16.24 and a 52 week high of C$26.17. The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s dividend payout ratio (DPR) is presently 26.05%.

Insiders Place Their Bets

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. 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 company’s stock in a transaction dated 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. Corporate insiders own 0.38% of the company’s stock.

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.