ARC Resources Ltd. (TSE:ARX) Senior Officer Sells C$597,961.59 in Stock

ARC Resources Ltd. (TSE:ARX) Senior Officer Ryan Victor Berrett sold 23,293 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$25.67, for a total value of C$597,961.59.

ARC Resources Stock Down 1.5 %

Shares of TSE:ARX opened at C$25.06 on Friday. The business’s 50 day simple moving average is C$25.00 and its two-hundred day simple moving average is C$22.56. The firm has a market cap of C$14.98 billion, a P/E ratio of 12.59, a PEG ratio of 0.29 and a beta of 1.32. The company has a debt-to-equity ratio of 29.15, a quick ratio of 0.42 and a current ratio of 0.79. ARC Resources Ltd. has a 52-week low of C$16.24 and a 52-week high of C$26.17.

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.68 annualized dividend and a yield of 2.71%. ARC Resources’s payout ratio is currently 34.17%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARX. Desjardins upped their price target on ARC Resources from C$29.00 to C$30.00 and gave the company a “buy” rating in a research report on Monday, May 13th. CIBC upped their price target on ARC Resources from C$30.00 to C$31.00 in a research report on Friday, May 10th. Stifel Nicolaus upped their price target on ARC Resources from C$29.00 to C$31.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. BMO Capital Markets upped their price target on ARC Resources from C$28.00 to C$30.00 in a research report on Friday, May 10th. Finally, Canaccord Genuity Group lowered ARC Resources from a “buy” rating to a “hold” rating and upped their target price for the company from C$25.00 to C$27.00 in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$29.85.

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.