ARC Resources (TSE:ARX) Sets New 1-Year High – Should You Buy?

ARC Resources Ltd. (TSE:ARX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$27.63 and last traded at C$27.63, with a volume of 98436 shares. The stock had previously closed at C$26.93.

Analyst Ratings Changes

ARX has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Cormark upgraded shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Jefferies Financial Group lifted their target price on shares of ARC Resources from C$27.00 to C$29.00 in a report on Monday, December 16th. Scotiabank increased their price target 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. Finally, UBS Group boosted their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARC Resources has a consensus rating of “Buy” and an average price target of C$31.35.

ARC Resources Price Performance

The stock has a market capitalization of C$15.88 billion, a P/E ratio of 13.80, a PEG ratio of 0.29 and a beta of 1.26. 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 fifty day moving average price of C$25.18 and a two-hundred day moving average price of C$24.43.

ARC Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 2.85%. ARC Resources’s dividend payout ratio is currently 35.23%.

Insiders Place Their Bets

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. 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.