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

ARC Resources Ltd. (TSE:ARX) has been given an average recommendation of “Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$32.29.

A number of equities analysts have commented on the company. CIBC lifted their price target on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Canaccord Genuity Group lifted their price target on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. TD Securities lifted their price target on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group boosted their target price on ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Finally, BMO Capital Markets boosted their target price on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th.

ARC Resources Price Performance

Shares of ARC Resources stock opened at C$27.51 on Friday. 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 business’s 50 day simple moving average is C$26.05 and its two-hundred day simple moving average is C$24.85. The stock has a market capitalization of C$16.19 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$21.44 and a one year high of C$28.15.

ARC Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 2.76%. ARC Resources’s dividend payout ratio (DPR) is presently 35.86%.

About ARC Resources

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.