ARC Resources Ltd (TSE:ARX) Director Myron Maurice Stadnyk acquired 5,000 shares of the stock in a transaction on Thursday, December 7th. The stock was bought at an average price of C$14.73 per share, with a total value of C$73,650.00.
Shares of ARC Resources Ltd (TSE ARX) traded down C$0.21 during midday trading on Thursday, hitting C$14.35. 1,321,118 shares of the company’s stock were exchanged, compared to its average volume of 1,120,309. ARC Resources Ltd has a fifty-two week low of C$14.24 and a fifty-two week high of C$24.74.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Wednesday, November 29th. ARC Resources’s dividend payout ratio is 44.12%.
ARX has been the subject of several research analyst reports. National Bank Financial lowered shares of ARC Resources from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Thursday, October 12th. Barclays lowered their price objective on shares of ARC Resources from C$22.00 to C$19.00 in a report on Tuesday, October 31st. Eight Capital raised their price objective on shares of ARC Resources from C$22.00 to C$22.50 in a report on Monday, November 13th. BMO Capital Markets lowered their price objective on shares of ARC Resources from C$20.00 to C$19.00 in a report on Tuesday, October 10th. Finally, Raymond James Financial lowered their price objective on shares of ARC Resources from C$25.00 to C$24.50 and set a “strong-buy” rating for the company in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ARC Resources presently has an average rating of “Buy” and an average target price of C$23.18.
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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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