ARC Resources (TSE:ARX) Given a C$22.00 Price Target at Barclays

Barclays set a C$22.00 price objective on ARC Resources (TSE:ARXGet Rating) in a report released on Wednesday, BayStreet.CA reports. The firm currently has an overweight rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued reports about the company. Stifel Firstegy restated a buy rating on shares of ARC Resources in a report on Thursday, January 12th. Royal Bank of Canada raised their price target on ARC Resources from C$26.00 to C$27.00 and gave the company an outperform rating in a report on Wednesday, September 21st. Scotiabank reduced their price target on ARC Resources from C$29.00 to C$27.00 in a report on Tuesday. Stifel Nicolaus set a C$22.50 price objective on ARC Resources and gave the company a buy rating in a research report on Friday, January 13th. Finally, National Bankshares dropped their price objective on ARC Resources from C$26.00 to C$23.00 in a research report on Friday, September 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$23.88.

ARC Resources Price Performance

ARX opened at C$16.75 on Wednesday. The stock has a fifty day simple moving average of C$17.96 and a two-hundred day simple moving average of C$17.73. The company has a current ratio of 0.46, a quick ratio of 0.42 and a debt-to-equity ratio of 31.07. The company has a market cap of C$10.68 billion and a price-to-earnings ratio of 4.94. ARC Resources has a 12-month low of C$12.00 and a 12-month high of C$22.88.

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

ARC Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Friday, December 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.58%. This is a boost from ARC Resources’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, December 29th. ARC Resources’s dividend payout ratio (DPR) is presently 12.98%.

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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