Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$29.00

ARC Resources Ltd. (TSE:ARX) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$29.00.

ARX has been the subject of several recent research reports. National Bank Financial downgraded ARC Resources from an “outperform” rating to a “hold” rating and dropped their price target for the stock from C$27.00 to C$26.00 in a research report on Friday, February 6th. Royal Bank Of Canada reduced their price objective on ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Raymond James Financial lowered ARC Resources from a “moderate buy” rating to a “hold” rating and decreased their price objective for the company from C$31.00 to C$28.00 in a research note on Monday, February 9th. MKM Partners set a C$34.00 price objective on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, BMO Capital Markets cut their target price on shares of ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research note on Monday, February 9th.

ARC Resources Stock Up 0.4%

ARX stock opened at C$29.42 on Monday. The company has a debt-to-equity ratio of 58.50, a current ratio of 0.70 and a quick ratio of 0.42. The company’s 50 day simple moving average is C$25.67 and its 200-day simple moving average is C$25.42. ARC Resources has a 12 month low of C$21.14 and a 12 month high of C$31.56. The firm has a market capitalization of C$17.11 billion, a PE ratio of 13.43, a P/E/G ratio of 0.29 and a beta of -0.06.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%.The firm had revenue of C$1.58 billion during the quarter. Equities analysts expect that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. ARC Resources’s payout ratio is 35.62%.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.