ARC Resources Ltd. (TSE:ARX) Receives C$30.39 Average PT from Brokerages

ARC Resources Ltd. (TSE:ARX) has been assigned an average recommendation of “Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$30.46.

Several analysts have recently issued reports on ARX shares. TD Securities decreased their target price on shares of ARC Resources from C$31.00 to C$30.00 in a research report on Tuesday, October 1st. Desjardins upped their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group cut their price target on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Finally, ATB Capital upped their price target on shares of ARC Resources from C$26.00 to C$27.00 in a report on Friday, June 28th.

ARC Resources Price Performance

The stock has a market cap of C$13.64 billion, a PE ratio of 12.05, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The business has a 50 day moving average of C$23.97 and a two-hundred day moving average of C$24.47.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The firm had revenue of C$1.15 billion for the quarter, compared to analysts’ expectations of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. On average, analysts anticipate that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.17 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of ∞. ARC Resources’s dividend payout ratio is currently 35.23%.

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.