ARC Resources Ltd. (TSE:ARX) Receives C$31.35 Average Target Price from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned an average recommendation of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$31.35.

ARX has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. National Bankshares increased their target price on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Scotiabank raised their price target on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. CIBC boosted their price objective on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Finally, Cormark upgraded ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd.

Insider Buying and Selling at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. 0.40% of the stock is currently owned by company insiders.

ARC Resources Price Performance

TSE ARX opened at C$26.07 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The company has a market cap of C$15.54 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 52 week low of C$19.45 and a 52 week high of C$27.40. The firm’s 50-day simple moving average is C$24.91 and its two-hundred day simple moving average is C$24.39.

ARC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.92%. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio is 35.23%.

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.