ARC Resources Ltd. (TSE:ARX) Increases Dividend to $0.19 Per Share

ARC Resources Ltd. (TSE:ARX) announced a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the oil and gas exploration company on Wednesday, January 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.03%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17.

ARC Resources Price Performance

TSE:ARX traded down C$0.62 during midday trading on Monday, hitting C$25.10. The company had a trading volume of 2,075,073 shares, compared to its average volume of 2,018,029. The stock’s fifty day moving average price is C$24.69 and its 200-day moving average price is C$24.42. ARC Resources has a 52-week low of C$19.31 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 company has a market capitalization of C$14.97 billion, a PE ratio of 13.03, a P/E/G ratio of 0.29 and a beta of 1.26.

Wall Street Analyst Weigh In

ARX has been the topic of several recent research reports. National Bankshares increased their price objective on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. TD Securities lifted 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 note on Thursday, November 7th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC increased their target price on shares of ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday. Nine investment 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, the company has a consensus rating of “Buy” and an average target price of C$31.35.

Insider Buying and Selling at ARC Resources

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’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 transaction of C$828,360.57. 0.40% of the stock is currently owned by corporate insiders.

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.