ARC Resources Ltd. (TSE:ARX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$27.63 and last traded at C$27.63, with a volume of 98436 shares changing hands. The stock had previously closed at C$26.93.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ARX shares. UBS Group upped their price target on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. Cormark upgraded ARC Resources to a "moderate buy" rating in a report on Monday, September 23rd. Canaccord Genuity Group lifted their price target on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. TD Securities boosted their price target on ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Scotiabank lifted their target price on 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. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARC Resources has an average rating of "Buy" and a consensus target price of C$31.35.
Get Our Latest Research Report on ARX
ARC Resources Trading Up 1.1 %
The stock's fifty day simple moving average is C$25.06 and its 200-day simple moving average is C$24.41. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market cap of C$16.23 billion, a PE ratio of 14.10, a PEG ratio of 0.29 and a beta of 1.26.
ARC Resources Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.79%. This is an increase from ARC Resources's previous quarterly dividend of $0.17. ARC Resources's payout ratio is presently 35.23%.
Insider Transactions at ARC Resources
In related 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