ARC Resources (TSE:ARX) Given New C$35.00 Price Target at Scotiabank

ARC Resources (TSE:ARX) had its target price increased by Scotiabank from C$34.00 to C$35.00 in a research note published on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

Other equities analysts have also issued reports about the company. ATB Capital increased their price objective on ARC Resources from C$26.00 to C$27.00 in a report on Friday, June 28th. CIBC increased their price objective on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Cormark raised ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Jefferies Financial Group reduced their price objective on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, National Bankshares cut their price target on ARC Resources from C$32.00 to C$31.00 in a report on Friday, September 27th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$30.46.

ARC Resources Stock Performance

The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The stock has a market capitalization of C$13.64 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The firm’s 50 day simple moving average is C$23.97 and its 200 day simple moving average is C$24.47. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$26.45.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The company had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. As a group, equities research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current 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 given a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of ∞. ARC Resources’s dividend payout ratio (DPR) is presently 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.