ARC Resources (TSE:ARX) Price Target Cut to C$11.00 by Analysts at CIBC

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ARC Resources (TSE:ARX) had its price target lowered by CIBC from C$13.00 to C$11.00 in a research note issued to investors on Thursday, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. Raymond James reissued a hold rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. GMP Securities reissued a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. National Bank Financial raised their price target on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the stock an outperform rating in a report on Tuesday, July 16th. Tudor Pickering & Holt reissued a hold rating on shares of MEG Energy in a report on Friday, June 7th. Finally, TD Securities raised their price target on shares of Champion Iron from C$3.50 to C$3.75 and gave the stock a buy rating in a report on Friday, June 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. ARC Resources currently has an average rating of Buy and a consensus target price of C$10.91.

ARX stock opened at C$6.35 on Thursday. 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 52 week low of C$6.08 and a 52 week high of C$15.90. The firm’s fifty day simple moving average is C$6.70. The company has a market cap of $2.24 billion and a price-to-earnings ratio of 21.90.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.25). The business had revenue of C$329.30 million for the quarter, compared to analyst estimates of C$339.30 million. As a group, equities analysts predict that ARC Resources will post 0.34 earnings per share for the current fiscal year.

The business also recently announced a jun 19 dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.05 per share. This represents a dividend yield of 8.63%. The ex-dividend date of this dividend was 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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Analyst Recommendations for ARC Resources (TSE:ARX)

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