ARC Resources Ltd. (ARX) to Issue Quarterly Dividend of $0.17 on October 15th

ARC Resources Ltd. (TSE:ARX) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.17 per share by the oil and gas exploration company on Tuesday, October 15th. This represents a $0.68 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, September 27th.

ARC Resources Stock Down 2.4 %

TSE:ARX traded down C$0.56 during trading hours on Wednesday, hitting C$22.83. 270,351 shares of the company traded hands, compared to its average volume of 1,963,400. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The firm’s 50-day simple moving average is C$24.02 and its 200-day simple moving average is C$24.43. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The company has a market cap of C$13.61 billion, a PE ratio of 11.89, a PEG ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share for the quarter. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. The business had revenue of C$1.15 billion for the quarter, compared to analysts’ expectations of C$1.03 billion. Equities analysts predict that ARC Resources will post 3.1763869 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ARX shares. Desjardins raised their target price on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group decreased their target price on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research report on Monday. ATB Capital raised their target price on ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. UBS Group decreased their price objective on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Finally, CIBC lifted their price objective on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Eleven 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, the company has a consensus rating of “Buy” and a consensus target price of C$30.46.

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.