ARC Resources (TSE:ARX) Price Target Cut to C$31.00 by Analysts at National Bankshares

ARC Resources (TSE:ARX) had its target price lowered by National Bankshares from C$32.00 to C$31.00 in a research report released on Friday morning, BayStreet.CA reports.

Other analysts have also recently issued research reports about the company. CIBC lifted their price objective on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Desjardins boosted their price target on ARC Resources from C$30.00 to C$31.50 and gave the company a buy rating in a research note on Tuesday, July 23rd. ATB Capital raised their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Cormark raised shares of ARC Resources to a moderate buy rating in a research report on Monday, September 23rd. Finally, Canaccord Genuity Group raised their price target on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a strong-buy rating in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARC Resources presently has a consensus rating of Buy and an average price target of C$30.32.

ARC Resources Price Performance

Shares of ARX opened at C$22.86 on Friday. The business’s 50-day moving average is C$23.77 and its 200-day moving average is C$24.39. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company has a market capitalization of C$13.63 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a fifty-two week low of C$19.02 and a fifty-two week high of C$26.45.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share for the quarter. The firm had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. Equities research analysts expect that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.97%. ARC Resources’s payout ratio is presently 35.23%.

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.