ARC Resources Ltd. (TSE:ARX) Receives Consensus Recommendation of “Hold” from Brokerages

ARC Resources Ltd. (TSE:ARX) has earned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$29.98.

A number of analysts have recently issued reports on the stock. Scotiabank raised shares of ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. TD Securities lowered shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. Capital One Financial lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Canadian Imperial Bank of Commerce lowered shares of ARC Resources from a “neutral” rating to a “tender” rating and increased their price target for the stock from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, ATB Cormark Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target for the company. in a research report on Tuesday, April 28th.

ARC Resources Price Performance

TSE ARX opened at C$31.76 on Friday. The company has a 50 day simple moving average of C$29.62 and a 200-day simple moving average of C$27.05. The company has a debt-to-equity ratio of 43.61, a current ratio of 0.87 and a quick ratio of 0.42. The firm has a market capitalization of C$17.96 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34. ARC Resources has a 52-week low of C$21.14 and a 52-week high of C$32.58.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. The business had revenue of C$2.10 billion during the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. Equities research analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, March 31st. ARC Resources’s dividend payout ratio is 31.62%.

About ARC Resources

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.