ARC Resources Ltd. (TSE:ARX) to Issue $0.17 Quarterly Dividend

ARC Resources Ltd. (TSE:ARX) announced a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Friday, September 27th will be paid 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 dividend yield of 2.96%. The ex-dividend date is Friday, September 27th.

ARC Resources Stock Performance

ARX traded down C$0.42 during trading hours on Wednesday, hitting C$22.97. 107,795 shares of the stock were exchanged, compared to its average volume of 1,962,502. The stock has a 50-day simple moving average of C$24.02 and a 200-day simple moving average of C$24.43. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The stock has a market cap of C$13.70 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARX shares. Canaccord Genuity Group raised their price objective on ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Scotiabank raised their price objective on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. CIBC raised their price objective on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Desjardins raised their target price on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, ATB Capital raised 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 assigned a strong buy rating to the stock. According to MarketBeat.com, ARC Resources has a consensus rating of “Buy” and a consensus price target 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.