ARC Resources (TSE:ARX) reached a new 52-week low on Friday . The stock traded as low as C$13.68 and last traded at C$13.70, with a volume of 605313 shares traded. The stock had previously closed at C$14.03.
Several equities research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on ARC Resources from C$15.00 to C$16.00 in a report on Friday. Raymond James upped their target price on ARC Resources from C$21.00 to C$22.00 in a research note on Tuesday, April 24th. GMP Securities cut their target price on ARC Resources from C$20.50 to C$18.50 in a research note on Friday, February 9th. CSFB lowered their price target on ARC Resources from C$21.00 to C$19.00 in a research report on Friday, April 13th. Finally, TD Securities lowered their price target on ARC Resources from C$19.00 to C$18.50 in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. ARC Resources has a consensus rating of “Buy” and an average target price of C$19.75.
ARC Resources (TSE:ARX) last issued its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.15 by C$0.06. The company had revenue of C$340.30 million during the quarter, compared to the consensus estimate of C$338.00 million. ARC Resources had a return on equity of 8.10% and a net margin of 23.54%.
The business also recently disclosed a apr 18 dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a $0.05 dividend. The ex-dividend date is Friday, April 27th. This represents a yield of 4.1%.
In other news, Director Harold N. Kvisle acquired 6,000 shares of ARC Resources stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average price of C$12.51 per share, for a total transaction of C$75,060.00. Also, Director Harold N. Kvisle acquired 12,000 shares of ARC Resources stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of C$12.97 per share, for a total transaction of C$155,640.00. Insiders have bought a total of 20,300 shares of company stock valued at $260,278 in the last three months.
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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