ARC Resources Ltd. (TSE:ARX) Announces Quarterly Dividend of $0.17

ARC Resources Ltd. (TSE:ARX) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Friday, September 27th will be given a dividend of 0.17 per share by the oil and gas exploration company on Tuesday, October 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, September 27th.

ARC Resources Price Performance

TSE:ARX traded down C$0.56 during mid-day trading on Wednesday, reaching C$22.83. The stock had a trading volume of 270,351 shares, compared to its average volume of 1,963,400. 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 50 day moving average price of C$24.02 and a two-hundred day moving average price of C$24.43. The stock has a market capitalization of C$13.61 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The business had revenue of C$1.15 billion for the quarter, compared to analysts’ expectations of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. As a group, analysts expect that ARC Resources will post 3.1763869 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ARX shares. Desjardins lifted their price target on ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank boosted their target price on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. UBS Group reduced their target price on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. CIBC boosted their target price on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Finally, ATB Capital boosted their target price on ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARC Resources currently has an average rating of “Buy” and an average target price of C$30.46.

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.