ARC Resources (TSE:ARX) Upgraded at Capital One Financial

Capital One Financial upgraded shares of ARC Resources (TSE:ARX) to a strong-buy rating in a report released on Monday,Zacks.com reports.

ARX has been the subject of several other research reports. CIBC reduced their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. BMO Capital Markets raised their price objective on ARC Resources from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Raymond James Financial lowered their price objective on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Scotiabank lowered their price objective on ARC Resources from C$38.00 to C$36.00 in a research report on Thursday, October 9th. Finally, National Bankshares lowered their price objective on ARC Resources from C$38.00 to C$33.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$33.13.

ARC Resources Price Performance

Shares of ARX stock opened at C$25.46 on Monday. ARC Resources has a 1-year low of C$22.50 and a 1-year high of C$31.56. The stock’s 50-day moving average is C$25.66 and its 200 day moving average is C$27.15. The company has a market cap of C$14.81 billion, a P/E ratio of 10.06, a PEG ratio of 0.29 and a beta of 0.13. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.0%. ARC Resources’s dividend payout ratio (DPR) is presently 29.25%.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.