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

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$33.25.

A number of research firms have recently weighed in on ARX. Raymond James Financial dropped their target price on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, April 9th. Desjardins increased their target price on shares of ARC Resources from C$34.50 to C$35.50 and gave the stock a “buy” rating in a report on Thursday, May 22nd. CIBC dropped their target price on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. Royal Bank Of Canada increased their target price 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, May 22nd. Finally, National Bankshares increased their target price on shares of ARC Resources from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd.

ARC Resources Stock Down 1.6%

ARX opened at C$27.47 on Wednesday. The stock has a market cap of C$16.17 billion, a PE ratio of 14.49, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$31.56. The business’s fifty day simple moving average is C$28.94 and its 200 day simple moving average is C$27.32.

ARC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 2.77%. ARC Resources’s payout ratio is 35.86%.

About ARC Resources

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.