Insiders buying at ARC Resources

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This Morning INK report was orignally published for INK Research subscribers on Oct. 2. The stock has subsequently rallied 24%. Highlights of the report were also published in the Globe and Mail Saturday

October 2, 2015 - Today we look at ARC Resources (ARX) whose stock closed at $17.56 on October 1st. It is down 10.8% over the last month, underperforming the S&P/TSX Capped Energy Index (down 9.0%). Nevertheless, it has grabbed our attention because in that same time period, insiders, including the CFO, have spent a total of $564,004 acquiring shares in the public market and have not reported any selling.

ARC Resources is an oil and gas company focused on its assets in the Montney region in northeast British Columbia. The company is ranked fourteenth in the September edition of our INK Edge Top Energy Stocks list on the combined basis of its rankings in valuations, insider commitment and price momentum.

On July 29th, ARC Resources announced their financial results for Q2 2015. Funds from operations for the quarter were $206.3 million, down from $295.8 million in Q2 2014. They recorded a net loss of $51 million ($0.15 per share), compared with earnings of $147.4 million($0.47 per share) in the comparable period. ARC Resources attributes $44.4 million of the loss to costs associated with the impairment of one of its exploration and evaluation assets during the quarter. ARC Resources pays a monthly dividend generating an annual yield of about 6.8%, slightly ahead of its sector peers at 6.6%. ARC Resources averaged 109,900 barrels of oil equivalent per day (65% natural gas) over the quarter and management issued a guidance for 2015 of from 113,000 to 116,000 boe/day. They expect increased production in Q4 upon commissioning a new gas plant at their Sunrise site and the expansion of an oil battery at their Tower site.

ARC Resources (ARX) - updated Oct. 9, 2015

On September 30th, ARC Resources  Senior Vice President and CFO P. Van Dafoe acquired 6,000 common shares at a price of $17.40.

From September 28th to September 30th, Senior Vice President and Chief Operating Officer Terry Anderson bought a total of 12,000 common shares at an average price of $17.75.

In addition, on September 28th, Director Harold Kvisle (NBZ) acquired 12,000 common shares at an average price of $17.55.

Finally, on September 17th, Director Herbert Pinder bought 1,965 common shares at a price of $18.23.

ARC Resources has above median ownership (direct & indirect holdings) by Officers and Directors compared to other large-cap stocks in the Energy sector according to SEDI filings as of September 30th, 2015.

ARC Resources currently holds a mostly sunny INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment and price momentum which places it in the top 30% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out- or under-perform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations.

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