ARC Resources (ARX) – Analysts’ Weekly Ratings Changes

ARC Resources (TSE: ARX) recently received a number of ratings updates from brokerages and research firms:

• 4/23/2024 – ARC Resources had its price target raised by analysts at Stifel Nicolaus from C$29.00 to C$31.00. They now have a “buy” rating on the stock.
• 4/22/2024 – ARC Resources had its price target raised by analysts at CIBC from C$26.00 to C$30.00. They now have an “outperform” rating on the stock.
• 4/19/2024 – ARC Resources had its price target raised by analysts at National Bankshares, Inc. from C$25.00 to C$33.00. They now have an “outperform” rating on the stock.
• 4/17/2024 – ARC Resources was downgraded by analysts at Canaccord Genuity Group Inc. from a “buy” rating to a “hold” rating. They now have a C$27.00 price target on the stock, up previously from C$25.00.
• 4/12/2024 – ARC Resources had its price target raised by analysts at Jefferies Financial Group Inc. from C$28.00 to C$30.00. They now have a “buy” rating on the stock.
• 4/5/2024 – ARC Resources had its price target raised by analysts at Stifel Nicolaus from C$25.00 to C$29.00.
• 3/28/2024 – ARC Resources had its price target raised by analysts at BMO Capital Markets from C$25.00 to C$28.00.
• 3/22/2024 – ARC Resources had its price target lowered by analysts at Desjardins from C$29.50 to C$29.00. They now have a “buy” rating on the stock.

ARC Resources Trading Up 1.8 %

Shares of TSE ARX traded up C$0.45 during trading hours on Thursday, hitting C$24.88. 1,055,543 shares of the company traded hands, compared to its average volume of 1,929,380. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. ARC Resources Ltd. has a 12 month low of C$15.41 and a 12 month high of C$26.17. The stock has a market capitalization of C$14.87 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33. The company’s 50 day moving average price is C$24.28 and its 200 day moving average price is C$22.21.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.50 by C$0.34. The company had revenue of C$1.00 million for the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. On average, equities research analysts anticipate that ARC Resources Ltd. will post 2.0857143 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.17 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.73%. ARC Resources’s dividend payout ratio is presently 26.05%.

Insider Buying and Selling at ARC Resources

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

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.