UBS Group Issues Positive Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its target price raised by UBS Group from C$31.00 to C$33.00 in a research report released on Monday morning,BayStreet.CA reports.

ARX has been the subject of a number of other reports. Scotiabank raised their price objective on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. 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 note on Monday, September 16th. TD Securities raised their target price on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. CIBC raised their target price on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Finally, Cormark raised ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$31.04.

ARC Resources Stock Performance

ARX opened at C$24.61 on Monday. The firm has a market cap of C$14.67 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$27.40. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The business’s fifty day moving average is C$24.46 and its 200-day moving average is C$24.42.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.76%. ARC Resources’s dividend payout ratio is 35.23%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction of C$828,360.57. Company 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.