Insider Selling: ARC Resources Ltd. (TSE:ARX) Senior Officer Sells 15,000 Shares of Stock

ARC Resources Ltd. (TSE:ARXGet Rating) Senior Officer Sean Ross Allen Calder sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of C$22.78, for a total transaction of C$341,745.00.

ARC Resources stock traded down C$0.39 during trading on Thursday, hitting C$21.75. 1,712,472 shares of the company were exchanged, compared to its average volume of 4,813,661. The business’s 50 day moving average is C$18.01 and its 200 day moving average is C$15.13. ARC Resources Ltd. has a 52 week low of C$7.51 and a 52 week high of C$22.88. The company has a market capitalization of C$14.81 billion and a P/E ratio of 28.68. The company has a current ratio of 0.41, a quick ratio of 0.38 and a debt-to-equity ratio of 43.20.

ARC Resources (TSE:ARXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The oil and gas exploration company reported C($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.57 by C($0.67). The company had revenue of C$2 billion during the quarter. Equities analysts expect that ARC Resources Ltd. will post 2.7087706 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.12 per share. This is a positive change from ARC Resources’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 2.21%. ARC Resources’s dividend payout ratio is 43.06%.

Several equities analysts have recently weighed in on ARX shares. Cormark raised their price target on shares of ARC Resources from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. CIBC increased their price objective on ARC Resources from C$20.00 to C$21.00 in a report on Thursday, April 14th. Stifel Nicolaus cut their price objective on ARC Resources from C$25.25 to C$24.75 in a report on Friday, May 6th. Tudor Pickering & Holt increased their price objective on ARC Resources from C$15.00 to C$18.00 and gave the company a “buy” rating in a report on Friday, February 11th. Finally, Raymond James set a C$22.00 price objective on ARC Resources and gave the company an “outperform” rating in a report on Friday, May 6th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ARC Resources has an average rating of “Buy” and a consensus target price of C$20.73.

About ARC Resources (Get Rating)

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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