ARC Resources Ltd. (TSE:ARX) Announces Dividend Increase – $0.19 Per Share

ARC Resources Ltd. (TSE:ARX) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid 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 Trading Down 2.4 %

Shares of ARX stock opened at C$25.10 on Tuesday. The stock has a 50 day simple moving average of C$24.72 and a 200 day simple moving average of C$24.41. ARC Resources has a 1 year low of C$19.31 and a 1 year high of C$27.40. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The stock has a market cap of C$14.97 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

Insider Activity 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 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 currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group raised their price target on ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. National Bankshares upped their price target on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Scotiabank lifted their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. CIBC upped their target price on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Finally, Canaccord Genuity Group raised their price objective on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ARC Resources presently has a consensus rating of “Buy” and a consensus target price of C$31.35.

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.