ARC Resources (TSE:ARX) Reaches New 52-Week High – Here’s Why

ARC Resources Ltd. (TSE:ARX) shares hit a new 52-week high during trading on Monday . The company traded as high as C$27.63 and last traded at C$27.63, with a volume of 98436 shares traded. The stock had previously closed at C$26.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARX shares. National Bankshares increased their target price on ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. TD Securities increased their price objective on shares of ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. UBS Group raised their price target on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Finally, Canaccord Genuity Group lifted their price target on shares of 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$31.35.

ARC Resources Stock Up 1.6 %

The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market cap of C$16.31 billion, a P/E ratio of 14.17, a PEG ratio of 0.29 and a beta of 1.26. The firm’s 50-day moving average price is C$25.06 and its 200 day moving average price is C$24.41.

ARC Resources Increases Dividend

The company also recently declared 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 2.78%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is 35.23%.

Insider Activity at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

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.