Insider Selling: ARC Resources Ltd. (TSE:ARX) Senior Officer Sells 30,572 Shares of Stock

ARC Resources Ltd. (TSE:ARX) Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction 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.

ARC Resources Stock Performance

TSE ARX traded down C$0.08 on Friday, reaching C$26.89. 257,853 shares of the company’s stock traded hands, compared to its average volume of 2,014,180. ARC Resources Ltd. has a fifty-two week low of C$19.02 and a fifty-two week high of C$27.40. 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$16.03 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.29 and a beta of 1.26. The stock has a 50 day moving average price of C$23.86 and a 200-day moving average price of C$24.40.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, September 27th. ARC Resources’s dividend payout ratio is currently 35.23%.

Wall Street Analyst Weigh In

ARX has been the topic of a number of research analyst reports. Scotiabank upped their price target on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. TD Securities raised their target price on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Jefferies Financial Group reduced their price objective on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, CIBC upped their target price on ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$30.96.

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.