ARC Resources (TSE:ARX) Stock Price Expected to Rise, UBS Group Analyst Says

ARC Resources (TSE:ARX) had its target price upped by UBS Group from C$31.00 to C$33.00 in a report issued on Monday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. CIBC lifted their price target on shares of ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. Scotiabank lifted their price target 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. Jefferies Financial Group dropped their price objective on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, TD Securities boosted their price objective on shares of ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$31.04.

ARC Resources Stock Performance

Shares of TSE:ARX opened at C$24.61 on Monday. The company has a market capitalization of C$14.67 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 52 week low of C$19.02 and a 52 week high of C$27.40. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The firm has a 50 day moving average of C$24.46 and a 200 day moving average of C$24.42.

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.76%. ARC Resources’s dividend payout ratio is currently 35.23%.

Insider Transactions at ARC Resources

In other ARC Resources 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 value of C$828,360.57. Insiders own 0.40% of the company’s stock.

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.