Cormark Brokers Lift Earnings Estimates for ARC Resources Ltd (ARX)

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ARC Resources Ltd (TSE:ARX) – Cormark lifted their Q4 2018 EPS estimates for ARC Resources in a research report issued on Friday, November 9th. Cormark analyst A. Arif now anticipates that the oil and gas exploration company will earn $0.31 per share for the quarter, up from their previous estimate of $0.22. Cormark also issued estimates for ARC Resources’ Q1 2019 earnings at $0.22 EPS, Q2 2019 earnings at $0.18 EPS and Q4 2019 earnings at $0.20 EPS.

Several other brokerages have also weighed in on ARX. TD Securities increased their target price on ARC Resources from C$16.50 to C$17.50 in a research report on Thursday, August 2nd. National Bank Financial cut their target price on ARC Resources from C$16.50 to C$13.50 and set a “sector perform” rating on the stock in a research report on Friday, November 9th. GMP Securities cut their target price on ARC Resources from C$17.50 to C$16.75 in a research report on Friday, November 9th. Royal Bank of Canada increased their target price on ARC Resources from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Finally, BMO Capital Markets increased their target price on ARC Resources from C$15.00 to C$17.00 in a research report on Thursday, August 2nd.

Shares of ARX opened at C$10.26 on Monday. The company has a debt-to-equity ratio of 24.20, a quick ratio of 1.17 and a current ratio of 1.35. ARC Resources has a twelve month low of C$10.03 and a twelve month high of C$16.74.

In related news, Director Myron Maurice Stadnyk acquired 5,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of C$10.22 per share, with a total value of C$51,100.00. Also, Director John Patrick Dielwart acquired 6,300 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was bought at an average cost of C$14.49 per share, for a total transaction of C$91,287.00. Insiders purchased a total of 23,200 shares of company stock worth $297,427 over the last ninety days.

The company also recently announced a nov 18 dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a $0.05 dividend. This represents a dividend yield of 4.37%. The ex-dividend date is Tuesday, October 30th. ARC Resources’s dividend payout ratio (DPR) is currently 168.07%.

About ARC Resources

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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Earnings History and Estimates for ARC Resources (TSE:ARX)

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