ARC Resources Ltd. (TSE:ARX) Receives Average Recommendation of “Buy” from Brokerages

Shares of ARC Resources Ltd. (TSE:ARXGet Rating) have been given an average recommendation of “Buy” by the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$20.23.

A number of brokerages recently issued reports on ARX. CIBC boosted their price objective on ARC Resources from C$20.00 to C$21.00 in a research note on Thursday, April 14th. Royal Bank of Canada increased their price objective on ARC Resources from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a report on Friday, February 11th. Cormark lifted their target price on ARC Resources from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Monday, April 18th. Scotiabank increased their price target on shares of ARC Resources from C$23.00 to C$26.00 in a report on Tuesday, March 8th. Finally, Tudor Pickering & Holt raised their price objective 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.

Shares of ARC Resources stock opened at C$17.23 on Thursday. The firm has a market capitalization of C$11.95 billion and a P/E ratio of 13.78. ARC Resources has a 12 month low of C$7.51 and a 12 month high of C$19.27. The company has a current ratio of 0.48, a quick ratio of 0.42 and a debt-to-equity ratio of 43.44. The business’s fifty day simple moving average is C$16.41 and its 200 day simple moving average is C$13.82.

ARC Resources (TSE:ARXGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The oil and gas exploration company reported C$1.07 earnings per share for the quarter, beating the consensus estimate of C$0.50 by C$0.57. The firm had revenue of C$1.78 billion for the quarter. Analysts predict that ARC Resources will post 2.4900001 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, March 30th. ARC Resources’s payout ratio is currently 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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Analyst Recommendations for ARC Resources (TSE:ARX)

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