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

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight 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 covered the stock in the last year is C$31.88.

Several analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. BMO Capital Markets raised their target price on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. TD Securities increased their price target on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th.

Insider Activity

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Insiders own 0.40% of the company’s stock.

ARC Resources Stock Performance

TSE ARX opened at C$26.90 on Wednesday. The firm has a 50-day moving average price of C$25.84 and a two-hundred day moving average price of C$24.60. ARC Resources has a 12-month low of C$19.58 and a 12-month high of C$28.15. The company has a market capitalization of C$16.04 billion, a P/E ratio of 13.94, 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 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same period in the previous year, the company earned $0.39 earnings per share. Analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 2.83%. ARC Resources’s dividend payout ratio (DPR) 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.