ARC Resources Ltd (ARX) to Issue $0.05 Monthly Dividend

ARC Resources Ltd (TSE:ARX) declared a monthly dividend on Thursday, February 8th, Zacks reports. Stockholders of record on Wednesday, February 28th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Tuesday, February 27th.

Shares of ARC Resources (TSE:ARX) traded up C$0.03 during trading hours on Thursday, hitting C$12.87. The stock had a trading volume of 61,958 shares, compared to its average volume of 1,457,165. ARC Resources has a twelve month low of C$11.88 and a twelve month high of C$21.11. The stock has a market cap of $4,540.00, a P/E ratio of 11.67 and a beta of 0.58.

ARX has been the topic of a number of analyst reports. Raymond James Financial cut their price target on ARC Resources from C$25.00 to C$24.50 and set a “strong-buy” rating on the stock in a report on Tuesday, November 14th. National Bank Financial lowered their price objective on ARC Resources from C$17.50 to C$17.00 and set a “sector perform” rating for the company in a research report on Friday, November 10th. CSFB lowered their price objective on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. GMP Securities lowered their price objective on ARC Resources from C$20.50 to C$18.50 in a research report on Friday, February 9th. Finally, Barclays lowered their price objective on ARC Resources from C$19.00 to C$16.00 in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$20.15.

In other news, Director Harold N. Kvisle purchased 6,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was bought at an average price of C$12.51 per share, with a total value of C$75,060.00. Also, Director Harold N. Kvisle purchased 12,000 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of C$12.97 per share, with a total value of C$155,640.00. Insiders bought a total of 28,855 shares of company stock valued at $384,054 in the last three months.

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ARC Resources Company Profile

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.

Dividend History for ARC Resources (TSE:ARX)

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