ARC Resources (TSE:ARX) had its price objective lowered by Raymond James from C$15.25 to C$12.00 in a research note published on Thursday morning, BayStreet.CA reports.
A number of other analysts have also recently weighed in on ARX. Tudor Pickering & Holt restated a hold rating on shares of MEG Energy in a research note on Friday, June 7th. TD Securities raised their price target on Champion Iron from C$3.50 to C$3.75 and gave the company a buy rating in a research note on Friday, June 21st. CIBC cut their price target on Peyto Exploration & Development from C$10.00 to C$6.00 in a research note on Wednesday, June 19th. BMO Capital Markets restated a hold rating and issued a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. Finally, GMP Securities restated a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of C$11.59.
Shares of TSE ARX opened at C$6.40 on Thursday. The firm has a market capitalization of $2.26 billion and a PE ratio of 22.07. The company has a debt-to-equity ratio of 26.10, a quick ratio of 0.95 and a current ratio of 1.38. ARC Resources has a 12-month low of C$6.08 and a 12-month high of C$15.90. The company has a fifty day moving average of C$6.91.
ARC Resources (TSE:ARX) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.10 by C($0.25). The business had revenue of C$329.30 million during the quarter, compared to the consensus estimate of C$339.30 million. As a group, sell-side analysts expect that ARC Resources will post 0.37 earnings per share for the current fiscal year.
The company also recently disclosed a jun 19 dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.05 per share. This represents a dividend yield of 8.63%. The ex-dividend date of this dividend is Thursday, June 27th. ARC Resources’s payout ratio is 206.90%.
ARC Resources Company Profile
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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