Analysts Set ARC Resources Ltd. (TSE:ARX) PT at C$33.13

ARC Resources Ltd. (TSE:ARX) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have covered the stock in the last year is C$33.13.

A number of research firms recently weighed in on ARX. National Bankshares lowered their target price on shares of ARC Resources from C$38.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. BMO Capital Markets increased their target price on ARC Resources from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. CIBC cut their target price on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Raymond James Financial lowered their price target on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Scotiabank dropped their price objective on ARC Resources from C$38.00 to C$36.00 in a research note on Thursday, October 9th.

ARC Resources Stock Down 0.5%

Shares of ARX stock opened at C$25.41 on Friday. The stock has a market cap of C$14.78 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.29 and a beta of 0.13. ARC Resources has a one year low of C$22.50 and a one year high of C$31.56. The stock has a fifty day moving average price of C$25.73 and a 200 day moving average price of C$27.14. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.0%. ARC Resources’s dividend payout ratio is currently 29.25%.

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.