ARC Resources (TSE:ARX) Given New C$27.00 Price Target at Scotiabank

ARC Resources (TSE:ARXGet Rating) had its price target decreased by Scotiabank from C$29.00 to C$27.00 in a report published on Tuesday morning, BayStreet.CA reports.

Several other analysts have also commented on ARX. Royal Bank of Canada boosted their price target on ARC Resources from C$26.00 to C$27.00 and gave the company an outperform rating in a research note on Wednesday, September 21st. TD Securities dropped their target price on ARC Resources from C$28.00 to C$26.00 and set a buy rating for the company in a research report on Friday, November 4th. Stifel Nicolaus set a C$22.50 target price on ARC Resources and gave the stock a buy rating in a research report on Friday, January 13th. Stifel Firstegy reaffirmed a buy rating on shares of ARC Resources in a research note on Thursday, January 12th. Finally, National Bankshares decreased their target price on ARC Resources from C$26.00 to C$23.00 in a research note on Friday, September 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of C$24.05.

ARC Resources Trading Up 3.9 %

Shares of ARX stock opened at C$17.03 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.46 and a debt-to-equity ratio of 31.07. ARC Resources has a fifty-two week low of C$12.00 and a fifty-two week high of C$22.88. The stock has a market capitalization of C$10.86 billion and a P/E ratio of 5.02. The stock has a 50-day simple moving average of C$17.98 and a 200 day simple moving average of C$17.74.

ARC Resources (TSE:ARXGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The oil and gas exploration company reported C$1.32 earnings per share for the quarter. The firm had revenue of C$2.13 billion for the quarter. On average, sell-side analysts expect that ARC Resources will post 3.3699998 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 16th. Investors of record on Friday, December 30th were given a $0.15 dividend. The ex-dividend date was Thursday, December 29th. This is a positive change from ARC Resources’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 3.52%. ARC Resources’s payout ratio is 12.98%.

ARC Resources Company Profile

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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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