ARC Resources (TSE:ARX) Sets New 1-Year High – What’s Next?

ARC Resources Ltd. (TSE:ARX)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$27.30 and last traded at C$27.27, with a volume of 334701 shares. The stock had previously closed at C$26.23.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARX. TD Securities lifted their price objective on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating 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. Jefferies Financial Group dropped their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, September 16th. National Bankshares lifted their price target on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Finally, CIBC lifted their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ARC Resources presently has an average rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Stock Performance

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 market cap of C$16.13 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The firm’s fifty day moving average price is C$23.80 and its 200 day moving average price is C$24.39.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.51%. ARC Resources’s dividend payout ratio is currently 35.23%.

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.