Shares of ARC Resources Ltd. (TSE:ARX – Get Free Report) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$29.85.
Several research analysts have issued reports on ARX shares. CIBC lifted their target price on shares of ARC Resources from C$30.00 to C$31.00 in a report on Friday, May 10th. TD Securities lifted their target price on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. BMO Capital Markets lifted their target price on shares of ARC Resources from C$28.00 to C$30.00 in a report on Friday, May 10th. Cormark lifted their target price on shares of ARC Resources from C$32.00 to C$35.00 in a report on Friday, May 10th. Finally, National Bankshares lifted their target price on shares of ARC Resources from C$25.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday, April 19th.
Read Our Latest Research Report on ARC Resources
ARC Resources Trading Down 1.5 %
ARC Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.71%. ARC Resources’s dividend payout ratio is currently 34.17%.
Insider Buying and Selling at ARC Resources
In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. In other news, Senior Officer Ryan Victor Berrett sold 23,293 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$25.67, for a total value of C$597,961.59. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Over the last ninety days, insiders sold 142,355 shares of company stock valued at $3,411,806. Insiders own 0.38% 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.
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