Brokerages Set ARC Resources Ltd. (TSE:ARX) PT at C$31.35

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a buy rating and one has given 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.

Several analysts have recently weighed in on the company. UBS Group upped their price objective on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Canaccord Genuity Group raised their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Scotiabank raised 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. Finally, BMO Capital Markets lifted their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th.

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 transaction of C$828,360.57. Company insiders own 0.40% of the company’s stock.

ARC Resources Stock Performance

ARX opened at C$26.02 on Friday. The business has a 50 day moving average price of C$24.73 and a two-hundred day moving average price of C$24.37. 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 has a market capitalization of C$15.51 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 1-year low of C$19.45 and a 1-year high of C$27.40.

ARC Resources Increases Dividend

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

About ARC Resources

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.