ARC Resources Ltd. (TSE:ARX) Receives C$30.46 Average Target Price from Analysts

ARC Resources Ltd. (TSE:ARX) has received a consensus recommendation of “Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$30.46.

Several equities research analysts recently commented on the company. UBS Group lowered their price target on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Scotiabank lifted their price objective on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. CIBC boosted their price target on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Desjardins raised their price objective on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group decreased their target price on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research report on Monday, September 16th.

ARC Resources Trading Down 0.8 %

Shares of TSE ARX opened at C$22.91 on Thursday. The firm has a market capitalization of C$13.66 billion, a PE ratio of 11.87, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The business has a 50-day moving average price of C$23.90 and a two-hundred day moving average price of C$24.41.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The company had revenue of C$1.15 billion during the quarter, compared to analyst estimates of C$1.03 billion. As a group, analysts predict that ARC Resources will post 3.2027972 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, September 27th. ARC Resources’s payout ratio is 35.23%.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.