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

ARC Resources Ltd. (TSE:ARX) has been assigned an average rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$30.46.

A number of research firms recently issued reports on ARX. Jefferies Financial Group reduced their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday. UBS Group reduced their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Scotiabank lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Desjardins lifted their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, CIBC lifted their target price on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th.

ARC Resources Stock Down 2.9 %

ARC Resources stock opened at C$22.71 on Thursday. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$26.45. The firm has a market capitalization of C$13.54 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The firm’s fifty day moving average price is C$24.02 and its two-hundred day moving average price is C$24.43. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The company had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. On average, equities research analysts predict that ARC Resources will post 3.1763869 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, September 27th. 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.