ARC Resources (TSE:ARX) Hits New 12-Month High – Still a Buy?

ARC Resources Ltd. (TSE:ARX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$27.63 and last traded at C$27.63, with a volume of 98436 shares trading hands. The stock had previously closed at C$26.93.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ARX shares. Scotiabank lifted their target price on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. National Bankshares lifted their price target on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Jefferies Financial Group increased their price objective on ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. TD Securities lifted their target price 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. Finally, UBS Group upped their price target on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$31.35.

ARC Resources Trading Up 1.6 %

The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market cap of C$16.31 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The business’s 50-day moving average price is C$25.06 and its two-hundred day moving average price is C$24.41.

ARC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. 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 2.78%. ARC Resources’s dividend payout ratio is 35.23%.

Insider Transactions at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction 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.