BMO Capital Markets Issues Positive Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its price objective increased by BMO Capital Markets from C$30.00 to C$32.00 in a research note published on Friday,BayStreet.CA reports.

A number of other equities analysts also recently commented on ARX. CIBC raised their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. Canaccord Genuity Group upped their price objective on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. TD Securities boosted their price target on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Scotiabank increased their price objective on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources currently has an average rating of “Buy” and an average target price of C$31.19.

ARC Resources Stock Performance

TSE:ARX opened at C$25.72 on Friday. The firm’s 50-day moving average is C$24.69 and its 200-day moving average is C$24.42. The company has a market cap of C$15.33 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. ARC Resources has a 52-week low of C$19.08 and a 52-week high of C$27.40.

ARC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.64%. ARC Resources’s dividend payout ratio is currently 35.23%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction 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.