ARC Resources (ARX) Given New C$13.50 Price Target at TD Securities

ARC Resources (TSE:ARX) had its price objective lowered by TD Securities from C$14.00 to C$13.50 in a report released on Friday morning. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued reports about the company. GMP Securities decreased their price objective on ARC Resources from C$16.75 to C$12.75 in a report on Thursday, December 13th. Raymond James decreased their price target on ARC Resources from C$23.00 to C$22.50 in a report on Wednesday, January 9th. Royal Bank of Canada decreased their price target on ARC Resources from C$18.00 to C$12.00 in a report on Tuesday, January 8th. National Bank Financial raised ARC Resources from a sector perform rating to an outperform rating and decreased their price target for the stock from C$13.50 to C$11.00 in a report on Monday, December 10th. Finally, CIBC decreased their price target on ARC Resources from C$20.00 to C$17.00 in a report on Tuesday, November 13th.

ARX stock opened at C$9.40 on Friday. The company has a market capitalization of $3.37 billion and a PE ratio of 15.67. ARC Resources has a twelve month low of C$7.38 and a twelve month high of C$15.90. The company has a debt-to-equity ratio of 24.74, a current ratio of 1.97 and a quick ratio of 1.31.

The business also recently declared a feb 19 dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be issued a dividend of $0.05 per share. This represents a dividend yield of 6.28%. The ex-dividend date of this dividend is Wednesday, January 30th. ARC Resources’s dividend payout ratio is presently 100.00%.

In other ARC Resources news, insider Larissa Marianne Conrad acquired 3,060 shares of the business’s stock in a transaction on Wednesday, December 5th. The stock was purchased at an average price of C$9.15 per share, for a total transaction of C$27,999.00. Also, insider Bevin Mark Wirzba acquired 4,855 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was acquired at an average price of C$10.28 per share, with a total value of C$49,909.40. Over the last ninety days, insiders have purchased 93,693 shares of company stock valued at $861,550.

ARC Resources Company Profile

ARC Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids. The company primarily holds interests in the Montney resource play properties located in northeast British Columbia and northern Alberta; and other assets located in the Cardium formation in the Pembina area of Alberta.

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