Insider Selling: ARC Resources Ltd. (TSE:ARX) Senior Officer Sells 10,000 Shares of Stock

ARC Resources Ltd. (TSE:ARX) Senior Officer Sean William Stuart sold 10,000 shares of ARC Resources stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of C$25.51, for a total value of C$255,100.00.

ARC Resources Stock Down 0.4 %

Shares of ARC Resources stock traded down C$0.10 during midday trading on Thursday, hitting C$25.34. The company had a trading volume of 641,227 shares, compared to its average volume of 1,937,912. ARC Resources Ltd. has a 52-week low of C$16.24 and a 52-week high of C$26.17. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79. The stock has a market capitalization of C$15.15 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.29 and a beta of 1.32. The company has a 50 day moving average of C$24.96 and a 200 day moving average of C$22.55.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.17 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.68%. ARC Resources’s dividend payout ratio is currently 34.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on ARX shares. National Bankshares increased their target price on shares of ARC Resources from C$25.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, April 19th. CIBC upped their price target on ARC Resources from C$30.00 to C$31.00 in a research report on Friday, May 10th. Cormark lifted their price objective on ARC Resources from C$32.00 to C$35.00 in a research report on Friday, May 10th. Jefferies Financial Group upped their target price on ARC Resources from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, TD Securities upped their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.85.

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.