ARC Resources (TSE:ARX) Given New C$31.00 Price Target at Canaccord Genuity Group

ARC Resources (TSE:ARX) had its target price lifted by Canaccord Genuity Group from C$29.00 to C$31.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

Other analysts also recently issued research reports about the company. Scotiabank boosted their price target on ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Desjardins raised their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. CIBC lifted their target price on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Cormark upgraded ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Finally, UBS Group dropped their price target on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Stock Performance

TSE ARX traded down C$0.53 on Thursday, hitting C$24.53. The stock had a trading volume of 980,466 shares, compared to its average volume of 2,026,121. The company’s 50-day moving average is C$23.75 and its two-hundred day moving average is C$24.39. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The stock has a market cap of C$14.63 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.77%. ARC Resources’s payout ratio is 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.