ARC Resources (ARX) to Release Quarterly Earnings on Thursday

ARC Resources (TSE:ARX) is set to issue its quarterly earnings data after the market closes on Thursday, August 1st.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 EPS for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.17). The business had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.08 billion. ARC Resources had a return on equity of 16.66% and a net margin of 22.74%.

ARC Resources Stock Up 1.6 %

Shares of TSE:ARX traded up C$0.36 during mid-day trading on Wednesday, reaching C$23.32. 243,977 shares of the stock were exchanged, compared to its average volume of 1,957,945. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 29.15. The company has a market cap of C$13.94 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.29 and a beta of 1.32. ARC Resources has a one year low of C$19.02 and a one year high of C$26.17. The stock’s 50 day simple moving average is C$24.42 and its 200-day simple moving average is C$23.84.

ARC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, June 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.92%. ARC Resources’s payout ratio is presently 34.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. ATB Capital raised their price target on ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. UBS Group decreased their price target on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Scotiabank boosted their price objective on ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. Desjardins lifted their price objective on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group cut shares of ARC Resources from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, ARC Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$30.54.

Insider Activity at ARC Resources

In related news, Director Hugh Hegeler Connett acquired 1,500 shares of ARC Resources stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price 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 the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$25.67, for a total transaction of C$597,961.59. Also, Director Hugh Hegeler Connett acquired 1,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of C$18.88 per share, with a total value of C$28,315.95. Insiders sold 118,705 shares of company stock worth $3,029,226 in the last ninety days. 0.38% of the stock is owned by company insiders.

ARC Resources Company Profile

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.