ARC Resources (TSE:ARX) Given New C$29.00 Price Target at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price target lifted by Jefferies Financial Group from C$27.00 to C$29.00 in a research note released on Monday morning,BayStreet.CA reports.

ARX has been the topic of a number of other research reports. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. CIBC raised their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. National Bankshares boosted their target price on shares of ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Finally, TD Securities lifted their price objective 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. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$31.35.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$25.10 on Monday. The business’s 50-day simple moving average is C$24.72 and its 200-day simple moving average is C$24.41. ARC Resources has a 52 week low of C$19.31 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 firm has a market cap of C$14.97 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.03%. ARC Resources’s payout ratio is currently 35.23%.

Insider Activity 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 shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. 0.40% of the stock is currently owned by corporate insiders.

ARC Resources Company Profile

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.