ARC Resources (TSE:ARX) Price Target Raised to C$35.00

ARC Resources (TSE:ARX - Free Report) had its price objective upped by CIBC from C$34.00 to C$35.00 in a report published on Friday,BayStreet.CA reports.

Several other research firms have also issued reports on ARX. Canaccord Genuity Group boosted their target price on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. National Bankshares boosted their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. TD Securities increased their target price on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. Finally, UBS Group raised their price objective on ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ARC Resources currently has a consensus rating of "Buy" and a consensus price target of C$31.42.

ARC Resources Trading Up 1.3 %

Shares of ARX stock traded up C$0.33 during trading hours on Friday, reaching C$26.52. The company had a trading volume of 1,319,135 shares, compared to its average volume of 2,173,771. ARC Resources has a 1-year low of C$19.58 and a 1-year high of C$28.15. 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$15.81 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a 50 day moving average of C$25.76 and a 200 day moving average of C$24.56.

ARC Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.19 dividend. This is an increase from ARC Resources's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.87%. ARC Resources's dividend payout ratio (DPR) is 35.23%.

Insiders Place Their Bets

In other 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 stock was 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.

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.