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

ARC Resources Ltd. (TSE:ARX) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$32.41.

A number of research analysts have recently weighed in on ARX shares. Scotiabank downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and reduced their target price for the company from C$36.00 to C$30.00 in a research report on Friday, November 7th. Raymond James Financial reduced their price objective on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a research note on Monday, October 27th. Jefferies Financial Group dropped their price target on ARC Resources from C$30.00 to C$28.00 in a research report on Monday, November 10th. Finally, National Bankshares decreased their price objective on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a report on Friday, November 7th.

ARC Resources Trading Down 0.0%

Shares of ARC Resources stock opened at C$24.67 on Tuesday. The firm has a market cap of C$14.35 billion, a PE ratio of 10.50, a P/E/G ratio of 0.29 and a beta of -0.01. ARC Resources has a 1 year low of C$22.63 and a 1 year high of C$31.56. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The stock has a fifty day moving average price of C$25.32 and a 200-day moving average price of C$27.02.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. The company had revenue of C$1.35 billion during the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. Equities research analysts anticipate that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. ARC Resources’s dividend payout ratio (DPR) is currently 32.34%.

About ARC Resources

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.