ARC Resources Ltd. (TSE:ARX) Receives C$30.39 Average Price Target from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have received an average rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$30.46.

ARX has been the topic of several analyst reports. Scotiabank upped their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group increased their price objective on ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. CIBC lifted their price objective on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Jefferies Financial Group lowered their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, TD Securities dropped their price target on shares of ARC Resources from C$31.00 to C$30.00 in a report on Tuesday, October 1st.

ARC Resources Stock Performance

Shares of ARC Resources stock opened at C$23.14 on Monday. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.45. The firm’s 50-day moving average is C$23.99 and its 200 day moving average is C$24.47. The stock has a market cap of C$13.80 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42.

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 firm had revenue of C$1.15 billion for the quarter, compared to the consensus estimate of C$1.03 billion. Sell-side analysts anticipate that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, September 27th. ARC Resources’s payout ratio is 35.23%.

ARC Resources Company Profile

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.