ARC Resources Ltd (TSE:ARX) – Analysts at National Bank Financial raised their FY2017 EPS estimates for ARC Resources in a research note issued on Wednesday. National Bank Financial analyst T. Wood now expects that the oil and gas exploration company will post earnings per share of $0.85 for the year, up from their prior estimate of $0.43. National Bank Financial has a “Outperform” rating and a $28.00 price objective on the stock.
A number of other analysts have also recently weighed in on the company. Scotiabank reiterated an “outperform” rating and set a C$29.00 price target on shares of ARC Resources in a research report on Thursday, May 4th. TD Securities dropped their price target on ARC Resources from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research report on Thursday, May 4th. Royal Bank of Canada dropped their price target on ARC Resources from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. Barclays PLC upgraded ARC Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, April 18th. Finally, GMP Securities lowered their target price on ARC Resources from C$30.50 to C$30.00 in a research report on Friday, February 10th. Eight research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of C$26.75.
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Shares of ARC Resources (TSE:ARX) traded up 0.96% on Monday, hitting $17.91. The company’s stock had a trading volume of 156,291 shares. The firm has a market cap of $6.33 billion and a PE ratio of 31.42. The company has a 50 day moving average of $18.46 and a 200 day moving average of $20.98. ARC Resources has a 1-year low of $16.66 and a 1-year high of $24.94.
The company also recently declared a apr 17 dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be paid a dividend of $0.05 per share. This represents a yield of 3.28%. The ex-dividend date is Wednesday, April 26th.
In other news, Director Herbert Pinder purchased 74,000 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was purchased at an average cost of C$21.13 per share, with a total value of C$1,563,620.00. Also, insider Bevin Mark Wirzba purchased 3,130 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average cost of C$19.02 per share, with a total value of C$59,532.60. Over the last ninety days, insiders have acquired 95,630 shares of company stock valued at $1,887,953.
About ARC Resources
ARC Resources Ltd is a crude oil and natural gas company. It is engaged in the exploration, development and production of crude oil and natural gas in Canada with an emphasis on the development of properties with hydrocarbons in place, commonly referred to as resource plays. Its properties, North Pembina Cardium Unit No.
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