ARC Resources (TSE:ARX) Reaches New 12-Month High After Analyst Upgrade

ARC Resources Ltd. (TSE:ARX - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from C$25.00 to C$29.00. The stock traded as high as C$26.04 and last traded at C$25.94, with a volume of 116208 shares changing hands. The stock had previously closed at C$25.98.

ARX has been the subject of several other reports. National Bankshares dropped their price objective on ARC Resources from C$26.00 to C$25.00 and set an "outperform" rating for the company in a report on Wednesday, January 10th. TD Securities boosted their price target on ARC Resources from C$24.00 to C$25.00 and gave the stock a "buy" rating in a report on Friday, February 9th. BMO Capital Markets boosted their price target on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. CIBC lowered their price target on ARC Resources from C$28.00 to C$26.00 and set an "outperform" rating for the company in a report on Tuesday, January 16th. Finally, ATB Capital lowered their price target on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$27.50.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. Corporate insiders own 0.07% of the company's stock.

ARC Resources Trading Down 1.0 %

The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. The firm has a 50-day moving average of C$22.90 and a 200 day moving average of C$21.73. The company has a market cap of C$15.35 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX - Get Free Report) last announced its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating the consensus estimate of C$0.50 by C$0.34. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. The company had revenue of C$1.00 million for the quarter. On average, analysts predict that ARC Resources Ltd. will post 2.0024116 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Wednesday, March 27th. ARC Resources's dividend payout ratio (DPR) is currently 25.47%.

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.