ARC Resources Ltd. (TSE:ARX) Receives Consensus Rating of “Buy” from Brokerages

by · The Cerbat Gem

Shares of ARC Resources Ltd. (TSE:ARX – Get Free Report) have received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$31.35.

A number of research analysts have weighed in on ARX shares. BMO Capital Markets raised their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Canaccord Genuity Group raised their price target on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. CIBC lifted their price target on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Finally, National Bankshares lifted their target price on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th.

Get Our Latest Stock Report on ARC Resources

Insider Buying and Selling

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’s 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. 0.40% of the stock is owned by insiders.

ARC Resources Price Performance

Shares of ARX opened at C$26.07 on Friday. The stock has a market cap of C$15.54 billion, a P/E ratio of 13.51, a P/E/G ratio of 0.29 and a beta of 1.26. The business’s fifty day moving average is C$24.91 and its 200 day moving average is C$24.39. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a 12-month low of C$19.45 and a 12-month high of C$27.40.

ARC Resources Increases Dividend

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

About ARC Resources

(Get Free Report

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.

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