ARC Resources (TSE:ARX) Price Target Raised to C$31.00

ARC Resources (TSE:ARX) had its target price hoisted by Canaccord Genuity Group from C$29.00 to C$31.00 in a research report report published on Thursday morning,BayStreet.CA reports.

Several other research analysts have also recently issued reports on the stock. CIBC raised their target price on shares of ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Scotiabank lifted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Desjardins boosted their price objective on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Cormark raised ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Finally, UBS Group decreased their price target on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ARC Resources presently has an average rating of “Buy” and an average target price of C$30.96.

ARC Resources Price Performance

Shares of TSE:ARX opened at C$24.86 on Thursday. ARC Resources has a twelve month low of C$19.02 and a twelve month 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 company has a market cap of C$14.82 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company’s 50 day moving average is C$23.74 and its 200 day moving average is C$24.40.

ARC Resources Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, September 27th. ARC Resources’s payout ratio is presently 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.