Stifel Firstegy Comments on ARC Resources Ltd.’s FY2023 Earnings (TSE:ARX)

ARC Resources Ltd. (TSE:ARXGet Rating) – Investment analysts at Stifel Firstegy increased their FY2023 earnings per share (EPS) estimates for ARC Resources in a report released on Thursday, April 21st. Stifel Firstegy analyst R. Fitzmartyn now anticipates that the oil and gas exploration company will earn $3.02 per share for the year, up from their previous forecast of $2.73.

ARC Resources (TSE:ARXGet Rating) last issued its earnings results on Thursday, February 10th. The oil and gas exploration company reported C$1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.50 by C$0.57. The firm had revenue of C$1.78 billion during the quarter.

Other equities analysts have also issued reports about the stock. BMO Capital Markets raised their target price on shares of ARC Resources from C$18.00 to C$20.00 in a report on Monday, March 14th. Scotiabank boosted their price target on shares of ARC Resources from C$23.00 to C$26.00 in a research report on Tuesday, March 8th. Tudor Pickering & Holt boosted their target price on shares of ARC Resources from C$15.00 to C$18.00 and gave the company a “buy” rating in a research report on Friday, February 11th. National Bankshares decreased their price target on shares of ARC Resources from C$24.00 to C$21.00 in a research note on Thursday, April 14th. Finally, National Bank Financial upped their target price on shares of ARC Resources to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$20.23.

Shares of ARX stock opened at C$17.30 on Monday. The company has a fifty day moving average price of C$16.28 and a two-hundred day moving average price of C$13.71. The company has a debt-to-equity ratio of 43.44, a current ratio of 0.48 and a quick ratio of 0.42. The stock has a market cap of C$12.00 billion and a P/E ratio of 13.84. ARC Resources has a one year low of C$7.28 and a one year high of C$19.27.

The business also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 18th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 30th. This represents a $0.40 annualized dividend and a yield of 2.31%. ARC Resources’s payout ratio is 22.88%.

ARC Resources Company Profile (Get Rating)

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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