ARC Resources Ltd (ARX) Declares $0.05 Jun 17 Dividend
ARC Resources Ltd (TSE:ARX) announced a jun 17 dividend on Tuesday, May 16th. Investors of record on Wednesday, May 31st will be paid a dividend of 0.05 per share by the oil and gas exploration company on Thursday, June 15th. The ex-dividend date of this dividend is Monday, May 29th.
Shares of ARC Resources (TSE:ARX) traded down 1.72% during mid-day trading on Tuesday, reaching $18.26. The company had a trading volume of 413,115 shares. The stock has a market capitalization of $6.45 billion and a P/E ratio of 23.08. ARC Resources has a one year low of $16.66 and a one year high of $24.94. The firm has a 50 day moving average of $18.41 and a 200-day moving average of $20.90.
In other news, Director Harold N. Kvisle bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were bought at an average cost of C$19.30 per share, for a total transaction of C$77,200.00. Also, insider Bevin Mark Wirzba bought 3,130 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average price of C$19.02 per share, for a total transaction of C$59,532.60. Insiders purchased 21,630 shares of company stock worth $324,333 over the last quarter.
ARX has been the topic of several research analyst reports. Barclays PLC lowered their price objective on ARC Resources from C$28.00 to C$26.00 in a research report on Monday, January 23rd. TD Securities upgraded ARC Resources from a “hold” rating to a “buy” rating in a research report on Thursday, February 9th. Royal Bank of Canada lowered their price objective on ARC Resources from C$28.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Thursday, February 9th. National Bank Financial upgraded ARC Resources from a “sector perform” rating to an “outperform” rating and set a C$28.00 price objective on the stock in a research report on Thursday, February 9th. Finally, Scotiabank restated an “outperform” rating and issued a C$29.00 price objective on shares of ARC Resources in a research report on Thursday, February 9th. Eight research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of C$26.75.
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.
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