Inside the Market’s roundup of some of today’s key analyst actions
Arc Resource Ltd. (ARX-T) has sold its Saskatchewan assets to Spartan Energy and investors “should be pleased with the transaction,” says Raymond James analyst Jeremy McCrea.
“Beyond the accretive metrics, the sale of the Saskatchewan assets furthers ARC’s focus on its five core plays and its high net back Montney assets in particular. Moreover, the sale will strengthen ARC’s already industry leading balance sheet. ARC’s healthy balance sheet will be well positioned to, we suspect, accelerate the pace of development in core Montney plays. To that point, ARC explicitly stated during its investor day that it has built in flexibility to its 2017 budget and is able to meaningfully increase its capital spending early in the year. We suspect that a significantly larger budget will be announced with an updated budget and guidance in February. In addition to the budget increase, ARX is reviewing its DRIP(dividend reinvestment program) , which, if suspended, would also enhance per share metrics,” the analyst said.Report Typo/Error
- S&P/TSX Composite15,745.190.00(0.00%)
- S&P/TSX Venture Composite804.390.00(0.00%)
- NASDAQ NMS COMPOSITE INDEX6,025.490.00(0.00%)
- S&P 500 INDEX2,388.610.00(0.00%)
- Dow Jones Industrials20,996.12+232.23(+1.12%)
- Best Buy Co Inc$51.770.00(0.00%)
- Superior Energy Services Inc$13.470.00(0.00%)
- ARC Resources Ltd$18.230.00(0.00%)
- Suncor Energy Inc$42.220.00(0.00%)
- Suncor Energy Inc$31.150.00(0.00%)
- Empire Company Ltd$20.580.00(0.00%)
- Updated April 25 4:00 PM EDT. Delayed by at least 15 minutes.