ARC Resources (TSE:ARX) Price Target Raised to C$32.00

ARC Resources (TSE:ARX) had its price objective raised by National Bankshares from C$31.00 to C$32.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on ARX. Jefferies Financial Group cut their price objective 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. UBS Group dropped their price target on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Scotiabank increased their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. CIBC upped their target price on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Finally, Desjardins upped their price target on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Ten investment 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, ARC Resources presently has a consensus rating of “Buy” and a consensus target price of C$30.96.

ARC Resources Trading Down 2.1 %

ARX traded down C$0.53 during trading on Thursday, hitting C$24.53. The company’s stock had a trading volume of 980,466 shares, compared to its average volume of 2,026,121. The firm has a market capitalization of C$14.63 billion, a P/E ratio of 12.98, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. 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 stock’s fifty day moving average price is C$23.75 and its 200-day moving average price is C$24.39.

ARC Resources Announces Dividend

The company also recently disclosed 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 2.77%. ARC Resources’s payout ratio is 35.23%.

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.