ARC Resources (TSE:ARX) Sets New 12-Month High – Here’s What Happened

ARC Resources Ltd. (TSE:ARX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$27.30 and last traded at C$27.27, with a volume of 334701 shares changing hands. The stock had previously closed at C$26.23.

Analyst Ratings Changes

Several analysts have weighed in on ARX shares. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC upped their price objective on ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. National Bankshares lifted their target price on ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Finally, Scotiabank increased their target price on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARC Resources currently has a consensus rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Price Performance

The company has a market capitalization of C$15.95 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company’s 50-day moving average price is C$23.93 and its two-hundred day moving average price is C$24.42.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.54%. ARC Resources’s dividend payout ratio (DPR) is currently 35.23%.

Insiders Place Their Bets

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

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.