ARC Resources Ltd (TSE:ARX) insider Larissa Marianne Conrad purchased 3,060 shares of the business’s stock in a transaction dated Wednesday, December 5th. The shares were purchased at an average cost of C$9.15 per share, with a total value of C$27,999.00.
ARX opened at C$9.14 on Friday. ARC Resources Ltd has a fifty-two week low of C$8.72 and a fifty-two week high of C$15.90. The company has a quick ratio of 1.17, a current ratio of 1.35 and a debt-to-equity ratio of 24.20.
ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 8th. The oil and gas exploration company reported C($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.20 by C($0.33). The firm had revenue of C$394.90 million during the quarter, compared to the consensus estimate of C$409.50 million. As a group, equities analysts forecast that ARC Resources Ltd will post 0.589999939967183 EPS for the current fiscal year.
The company also recently declared a dec 18 dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 29th. ARC Resources’s dividend payout ratio (DPR) is presently 166.67%.
A number of research firms have recently weighed in on ARX. National Bank Financial cut their price target on ARC Resources from C$16.50 to C$13.50 and set a “sector perform” rating for the company in a research note on Friday, November 9th. CIBC cut their price target on ARC Resources from C$20.00 to C$17.00 in a research note on Tuesday, November 13th. GMP Securities cut their price target on ARC Resources from C$17.50 to C$16.75 in a research note on Friday, November 9th. TD Securities cut their price target on ARC Resources from C$17.00 to C$15.50 and set a “buy” rating for the company in a research note on Monday, November 12th. Finally, Raymond James cut their price target on ARC Resources from C$22.50 to C$21.50 and set a “strong-buy” rating for the company in a research note on Friday, November 9th.
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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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