ARC Resources (TSE:ARX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

ARC Resources (TSE:ARX) had its price target upped by Jefferies Financial Group from C$27.00 to C$29.00 in a report issued on Monday,BayStreet.CA reports.

Several other equities analysts have also commented on ARX. CIBC increased their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. 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. UBS Group boosted their price target on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. Scotiabank raised their price objective on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets boosted their target price on ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. 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, the company presently has an average rating of “Buy” and a consensus price target of C$31.35.

ARC Resources Trading Down 2.1 %

TSE:ARX opened at C$23.87 on Monday. ARC Resources has a 1 year low of C$19.31 and a 1 year high of C$27.40. The stock has a market cap of C$14.23 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.29 and a beta of 1.26. 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 stock has a 50-day simple moving average of C$24.69 and a 200-day simple moving average of C$24.40.

ARC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is presently 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 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. Company 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.