ARC Resources Ltd. (TSE:ARX) Receives C$28.50 Average Price Target from Brokerages

ARC Resources Ltd. (TSE:ARX) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$28.50.

ARX has been the subject of several analyst reports. Scotiabank raised shares of ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. Raymond James Financial downgraded shares of ARC Resources from a “moderate buy” rating to a “hold” rating and reduced their price target for the company from C$31.00 to C$28.00 in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$27.50 to C$25.50 in a research report on Monday, February 9th. BMO Capital Markets reduced their price target on shares of ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Finally, National Bank Financial downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and reduced their price target for the company from C$27.00 to C$26.00 in a research report on Friday, February 6th.

ARC Resources Price Performance

Shares of ARX opened at C$25.65 on Friday. The company has a market capitalization of C$14.92 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.29 and a beta of -0.30. The company has a quick ratio of 0.42, a current ratio of 0.70 and a debt-to-equity ratio of 58.50. The firm has a 50 day moving average of C$26.50 and a 200 day moving average of C$25.64. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$31.56.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. The company had revenue of C$1.58 billion during the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. As a group, equities research analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.21 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 annualized dividend and a yield of 3.3%. ARC Resources’s dividend payout ratio (DPR) is currently 35.62%.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.