ARC Resources (TSE:ARX) Hits New 1-Year High at $24.41

ARC Resources Ltd. (TSE:ARXGet Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$24.41 and last traded at C$24.39, with a volume of 194996 shares changing hands. The stock had previously closed at C$24.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group set a C$28.00 price objective on ARC Resources and gave the company a “buy” rating in a research note on Tuesday, February 27th. BMO Capital Markets upped their target price on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. TD Securities upped their target price on ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, February 9th. CIBC reduced their target price on ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Finally, National Bankshares reduced their target price on ARC Resources from C$26.00 to C$25.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$27.27.

Check Out Our Latest Report on ARX

ARC Resources Price Performance

The stock has a market capitalization of C$14.55 billion, a P/E ratio of 9.34, a PEG ratio of 0.29 and a beta of 1.31. The business has a fifty day simple moving average of C$22.57 and a 200-day simple moving average of C$21.61. The company has a debt-to-equity ratio of 29.74, a quick ratio of 0.42 and a current ratio of 0.91.

ARC Resources (TSE:ARXGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.50 by C$0.34. The firm had revenue of C$1.00 million for the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. Sell-side analysts expect that ARC Resources Ltd. will post 2.1692732 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, March 27th. ARC Resources’s payout ratio is 26.05%.

Insiders Place Their Bets

In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. Company insiders own 0.07% of the company’s stock.

ARC Resources Company Profile

(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.

Further Reading

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