A number of research firms have changed their ratings and price targets for ARC Resources (TSE: ARX):
- 7/23/2024 – ARC Resources had its price target raised by analysts at Desjardins from C$30.00 to C$31.50. They now have a “buy” rating on the stock.
- 7/15/2024 – ARC Resources had its price target raised by analysts at CIBC from C$31.00 to C$34.00.
- 7/12/2024 – ARC Resources had its price target raised by analysts at Scotiabank from C$33.00 to C$34.00.
- 7/10/2024 – ARC Resources had its price target lowered by analysts at UBS Group AG from C$33.00 to C$32.00.
- 6/28/2024 – ARC Resources had its price target raised by analysts at ATB Capital from C$26.00 to C$27.00.
ARC Resources Price Performance
Shares of TSE ARX traded up C$0.40 during trading hours on Wednesday, reaching C$23.36. 96,172 shares of the stock traded hands, compared to its average volume of 1,956,631. The company has a market capitalization of C$13.96 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.29 and a beta of 1.32. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 29.15. ARC Resources Ltd. has a 52-week low of C$19.02 and a 52-week high of C$26.17. The company’s 50-day simple moving average is C$24.42 and its two-hundred day simple moving average is C$23.84.
ARC Resources (TSE:ARX – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The oil and gas exploration company reported C$0.31 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). The firm had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.08 billion. ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. Equities research analysts forecast that ARC Resources Ltd. will post 1.9710258 EPS for the current year.
ARC Resources Dividend Announcement
Insiders Place Their Bets
In related news, Director Hugh Hegeler Connett purchased 1,500 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of C$18.88 per share, with a total value of C$28,315.95. In other news, Senior Officer Ryan Victor Berrett sold 23,293 shares of ARC Resources stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$25.67, for a total value of C$597,961.59. Also, Director Hugh Hegeler Connett acquired 1,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of C$18.88 per share, for a total transaction of C$28,315.95. Insiders have sold 118,705 shares of company stock valued at $3,029,226 in the last ninety days. Company insiders own 0.38% of the company’s stock.
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
Read More
- Five stocks we like better than ARC Resources
- What is MarketRankā¢? How to Use it
- 5 Aggressive Growth Stocks for Long-Term Investors
- What are earnings reports?
- Invest Like Congress: 2 ETFs to Add to Your Watchlist
- What is a SEC Filing?
- AI Boom or Bubble? Strategies for Success in a Volatile Sector
Receive News & Ratings for ARC Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources Ltd and related companies with MarketBeat.com's FREE daily email newsletter.