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

ARC Resources Ltd. (TSE:ARX) has received a consensus rating of “Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$32.29.

Several research firms recently issued reports on ARX. TD Securities raised their target price on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. UBS Group upped their target price on ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. BMO Capital Markets lifted their price target on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. Finally, National Bankshares upped their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th.

ARC Resources Stock Up 2.8 %

Shares of TSE ARX opened at C$26.37 on Thursday. The firm’s fifty day moving average is C$26.29 and its 200 day moving average is C$25.11. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$28.15. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company has a market cap of C$15.52 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.29 and a beta of 1.26.

ARC Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.88%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is 35.86%.

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.