ARC Resources (ARX) Stock Price Up 2.4% on Insider Buying Activity

ARC Resources Ltd (TSE:ARX) rose 2.4% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as C$9.30 and last traded at C$9.14. Approximately 1,186,288 shares traded hands during trading, a decline of 16% from the average daily volume of 1,417,492 shares. The stock had previously closed at C$8.93.

Specifically, insider Bevin Mark Wirzba acquired 4,855 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were acquired at an average price of C$10.28 per share, for a total transaction of C$49,909.40. Also, Director Myron Maurice Stadnyk acquired 5,000 shares of the company’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average price of C$10.22 per share, for a total transaction of C$51,100.00. In the last 90 days, insiders have acquired 90,593 shares of company stock worth $898,840.

ARX has been the topic of a number of recent analyst reports. GMP Securities dropped their price objective on ARC Resources from C$17.50 to C$16.75 in a report on Friday, November 9th. Raymond James dropped their price objective on ARC Resources from C$23.00 to C$22.50 in a report on Friday, October 5th. CIBC dropped their price objective on ARC Resources from C$20.00 to C$17.00 in a report on Tuesday, November 13th. TD Securities dropped their price objective on ARC Resources from C$17.00 to C$15.50 and set a “buy” rating on the stock in a report on Monday, November 12th. Finally, National Bank Financial dropped their price objective on ARC Resources from C$16.50 to C$13.50 and set a “sector perform” rating on the stock in a report on Friday, November 9th.

The company has a debt-to-equity ratio of 24.20, a current ratio of 1.35 and a quick ratio of 1.17.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, November 8th. The oil and gas exploration company reported C($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.33). The company had revenue of C$394.90 million during the quarter, compared to analysts’ expectations of C$409.50 million. On average, sell-side analysts forecast that ARC Resources Ltd will post 0.589355213156369 EPS for the current fiscal year.

The company also recently declared a dec 18 dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, November 29th. ARC Resources’s dividend payout ratio is presently 166.67%.

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About ARC Resources (TSE:ARX)

ARC Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids. The company primarily holds interests in the Montney resource play properties located in northeast British Columbia and northern Alberta; and other assets located in the Cardium formation in the Pembina area of Alberta.

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