ARC Resources Ltd (TSE:ARX) hit a new 52-week low during trading on Wednesday . The company traded as low as C$12.27 and last traded at C$12.41, with a volume of 1220502 shares changing hands. The stock had previously closed at C$12.67.
A number of equities research analysts have recently commented on the company. GMP Securities cut their price objective on ARC Resources from C$20.50 to C$18.50 in a research report on Friday, February 9th. TD Securities cut their price objective on ARC Resources from C$19.00 to C$18.50 in a research report on Friday, February 9th. Raymond James Financial cut their price objective on ARC Resources from C$22.00 to C$21.00 in a research report on Monday, February 5th. Barclays cut their price objective on ARC Resources from C$19.00 to C$16.00 in a research report on Wednesday, January 17th. Finally, National Bank Financial reduced their target price on ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating for the company in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of C$20.15.
The company has a market capitalization of $4,400.00, a price-to-earnings ratio of 11.32 and a beta of 0.58.
The firm also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.84%. ARC Resources’s payout ratio is currently 54.55%.
In related news, insider Bevin Mark Wirzba purchased 3,555 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of C$14.10 per share, with a total value of C$50,125.50. Also, Director Myron Maurice Stadnyk purchased 5,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of C$14.73 per share, for a total transaction of C$73,650.00.
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About ARC Resources
ARC Resources Ltd is a crude oil and natural gas company. It is engaged in the exploration, development and production of crude oil and natural gas in Canada with an emphasis on the development of properties with hydrocarbons in place, commonly referred to as resource plays. Its properties, North Pembina Cardium Unit No.
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