ARC Resources (TSE:ARX) Rating Increased to Hold at Scotiabank

Scotiabank upgraded shares of ARC Resources (TSE:ARX) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Roth Mkm raised ARC Resources to a “strong-buy” rating in a report on Friday, December 19th. Royal Bank Of Canada decreased their price objective on ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Jefferies Financial Group dropped their target price on ARC Resources from C$28.00 to C$27.00 in a report on Tuesday, January 20th. Raymond James Financial cut shares of ARC Resources from a “moderate buy” rating to a “hold” rating and reduced their target price for the company from C$31.00 to C$28.00 in a research report on Monday, February 9th. Finally, UBS Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ARC Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$29.00.

ARC Resources Stock Down 6.3%

Shares of ARX opened at C$27.12 on Wednesday. The firm has a market cap of C$15.77 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.29 and a beta of -0.06. The company has a debt-to-equity ratio of 58.50, a quick ratio of 0.42 and a current ratio of 0.70. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$31.56. The firm’s 50-day simple moving average is C$26.12 and its 200 day simple moving average is C$25.57.

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 net margin of 20.99% and a return on equity of 15.52%. The firm had revenue of C$1.58 billion during the quarter. On average, analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, March 31st. ARC Resources’s dividend payout ratio is presently 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.