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

ARC Resources Ltd. (TSE:ARX) has been assigned an average rating of “Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$31.35.

ARX has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on ARC Resources from C$29.00 to C$31.00 in a 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 research note on Wednesday, October 16th. CIBC upped their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. National Bankshares raised their target price on shares of ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Finally, TD Securities upped their price target on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources 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 currently owned by insiders.

ARC Resources Stock Performance

Shares of ARX opened at C$26.93 on Friday. The company has a market capitalization of C$16.06 billion, a price-to-earnings ratio of 13.95, 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 1 year low of C$19.58 and a 1 year high of C$27.40. The company’s 50 day simple moving average is C$25.06 and its 200 day simple moving average is C$24.41.

ARC Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued 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 2.82%. ARC Resources’s dividend payout ratio is currently 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.