ARC Resources (TSE:ARX) Trading 3.1% Higher

Shares of ARC Resources Ltd. (TSE:ARX) traded up 3.1% during mid-day trading on Monday . The company traded as high as C$9.78 and last traded at C$9.75. 3,539,399 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 3,065,274 shares. The stock had previously closed at C$9.46.

A number of equities research analysts have weighed in on the company. Raymond James restated an “outperform” rating and set a C$14.00 price target on shares of ARC Resources in a research report on Tuesday, August 3rd. BMO Capital Markets lifted their target price on shares of ARC Resources from C$12.00 to C$14.00 and gave the company a “na” rating in a report on Monday, June 21st. Scotiabank boosted their price objective on shares of ARC Resources from C$15.00 to C$19.00 in a report on Thursday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a C$12.00 target price on shares of ARC Resources in a research note on Friday, May 28th. Finally, National Bankshares cut their price objective on shares of ARC Resources from C$15.00 to C$13.50 in a research report on Monday, July 19th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$12.69.

The business’s 50 day simple moving average is C$9.10 and its 200 day simple moving average is C$8.79. The company has a market capitalization of C$7.02 billion and a PE ratio of 40.54. The company has a debt-to-equity ratio of 51.17, a current ratio of 0.38 and a quick ratio of 0.34.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, September 29th. This is a boost from ARC Resources’s previous quarterly dividend of $0.06. ARC Resources’s payout ratio is 100.42%.

About ARC Resources (TSE:ARX)

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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