ARC Resources Ltd. (TSE:ARX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average rating of “Buy” by the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$30.46.

A number of research firms recently commented on ARX. Desjardins increased 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. Canaccord Genuity Group upped their target price on ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. CIBC raised their price target on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. ATB Capital upped their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research note on Friday, June 28th. Finally, UBS Group decreased their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th.

ARC Resources Stock Performance

Shares of ARX stock opened at C$22.76 on Thursday. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The stock has a market cap of C$13.57 billion, a PE ratio of 11.79, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.45. The stock has a fifty day moving average price of C$23.87 and a 200 day moving average price of C$24.42.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share for the quarter. The business had revenue of C$1.15 billion during the quarter, compared to analysts’ expectations of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. Sell-side analysts forecast that ARC Resources will post 3.2027972 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, September 27th. ARC Resources’s dividend payout ratio is currently 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.