ARC Resources (TSE:ARX) Sets New 1-Year High – What’s Next?

ARC Resources Ltd. (TSE:ARX) shares hit a new 52-week high on Thursday . The company traded as high as C$27.30 and last traded at C$27.27, with a volume of 334701 shares. The stock had previously closed at C$26.23.

Analysts Set New Price Targets

A number of research firms have recently commented on ARX. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. 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. TD Securities raised their target price on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. National Bankshares raised their target price on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Finally, Jefferies Financial Group decreased their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$30.96.

ARC Resources Stock Up 3.1 %

The stock has a market capitalization of C$16.13 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.29 and a beta of 1.26. The company’s 50-day moving average price is C$23.80 and its 200 day moving average price is C$24.39. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.51%. ARC Resources’s dividend payout ratio is currently 35.23%.

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.