ARC Resources (ARX) Set to Announce Earnings on Thursday

ARC Resources (TSE:ARX) is set to release its earnings data after the market closes on Thursday, August 1st.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.48 by C($0.17). The business had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. ARC Resources had a return on equity of 16.66% and a net margin of 22.74%.

ARC Resources Stock Up 1.5 %

ARC Resources stock traded up C$0.34 during mid-day trading on Wednesday, hitting C$23.30. The company’s stock had a trading volume of 152,058 shares, compared to its average volume of 1,957,324. The firm’s 50 day moving average is C$24.42 and its 200 day moving average is C$23.84. The company has a market cap of C$13.93 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. The company has a debt-to-equity ratio of 29.15, a current ratio of 0.79 and a quick ratio of 0.42. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$26.17.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, June 28th. ARC Resources’s dividend payout ratio is currently 34.17%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Director Hugh Hegeler Connett acquired 1,500 shares of the business’s stock in a transaction on Monday, May 13th. The stock was purchased at an average price of C$18.88 per share, for a total transaction of C$28,315.95. In other news, Director Hugh Hegeler Connett bought 1,500 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of C$18.88 per share, with a total value of C$28,315.95. Also, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of ARC Resources stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total value of C$447,595.38. In the last quarter, insiders sold 118,705 shares of company stock worth $3,029,226. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARX shares. CIBC increased their price objective on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. TD Securities raised their price target on ARC Resources from C$27.00 to C$29.00 in a research note on Friday, May 10th. National Bankshares raised their price target on ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. BMO Capital Markets raised their price target on ARC Resources from C$28.00 to C$30.00 in a research note on Friday, May 10th. Finally, Scotiabank raised their target price on ARC Resources from C$33.00 to C$34.00 in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$30.54.

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.