ARC Resources (TSE:ARX) Sets New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

ARX has been the topic of several recent research reports. BMO Capital Markets raised their price target on ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Canaccord Genuity Group raised their target price on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Scotiabank lifted their target price on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. CIBC increased their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, November 8th. Finally, National Bankshares boosted their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARC Resources has an average rating of “Buy” and an average price target of C$31.35.

ARC Resources Stock Performance

The company has a 50-day simple moving average of C$25.18 and a two-hundred day simple moving average of C$24.43. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm has a market capitalization of C$15.88 billion, a P/E ratio of 13.80, a PEG ratio of 0.29 and a beta of 1.26.

ARC Resources Increases Dividend

The company also recently declared 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 a positive change from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 2.85%. ARC Resources’s payout ratio is currently 35.23%.

Insiders Place Their Bets

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. 0.40% of the stock is owned by corporate insiders.

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.