ARC Resources Ltd. (TSE:ARX) to Issue Dividend Increase – $0.19 Per Share

ARC Resources Ltd. (TSE:ARX) announced a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the oil and gas exploration company on Wednesday, January 15th. This represents a $0.76 annualized dividend and a yield of 3.03%. This is a positive change from ARC Resources’s previous quarterly dividend of $0.17.

ARC Resources Price Performance

Shares of ARX stock opened at C$25.10 on Tuesday. ARC Resources has a 1 year low of C$19.31 and a 1 year high of C$27.40. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The firm’s 50 day moving average is C$24.72 and its 200-day moving average is C$24.41. The firm has a market capitalization of C$14.97 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.29 and a beta of 1.26.

Insider Transactions at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARX. UBS Group boosted their target price on ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. TD Securities upped their target price on shares of ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, National Bankshares raised their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$31.35.

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.