ARC Resources (TSE:ARX – Free Report) had its price objective raised by UBS Group from C$31.00 to C$33.00 in a report released on Monday,BayStreet.CA reports.
Other equities research analysts have also issued research reports about the company. Cormark raised ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Scotiabank lifted their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Jefferies Financial Group reduced their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a report on Monday, September 16th. CIBC raised their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research report on Friday, November 8th. Finally, National Bankshares boosted their price target on shares of ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARC Resources currently has a consensus rating of “Buy” and a consensus price target of C$31.04.
ARC Resources Price Performance
ARC Resources Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.67%. ARC Resources’s dividend payout ratio (DPR) is currently 35.23%.
Insiders Place Their Bets
In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources 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. Company insiders own 0.40% of the company’s stock.
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.
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