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

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned an average rating of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$30.96.

A number of analysts have recently weighed in on the stock. Desjardins raised their price target on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. CIBC upped their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Jefferies Financial Group decreased their price target on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, National Bankshares upped their price objective on ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th.

ARC Resources Price Performance

Shares of TSE ARX opened at C$25.71 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. ARC Resources has a fifty-two week low of C$19.02 and a fifty-two week high of C$26.45. The business has a 50 day moving average price of C$23.74 and a two-hundred day moving average price of C$24.37. The firm has a market cap of C$15.33 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.64%. ARC Resources’s payout ratio is 35.23%.

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.