Brokerages Set ARC Resources Ltd. (TSE:ARX) Price Target at C$28.50

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$28.50.

ARX has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. Royal Bank Of Canada reduced their price objective on ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Scotiabank raised ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. BMO Capital Markets lowered their target price on ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Finally, National Bank Financial cut 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 report on Friday, February 6th.

ARC Resources Trading Up 0.5%

ARX stock opened at C$26.12 on Friday. ARC Resources has a one year low of C$21.14 and a one year high of C$31.56. The stock has a market cap of C$15.19 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.29 and a beta of -0.30. The company has a fifty day moving average price of C$26.57 and a two-hundred day moving average price of C$25.65. The company has a debt-to-equity ratio of 58.50, a current ratio of 0.70 and a quick ratio of 0.42.

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 for the quarter. The company had revenue of C$1.58 billion for the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. Equities analysts anticipate that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 annualized dividend and a yield of 3.2%. ARC Resources’s dividend payout ratio (DPR) is presently 35.62%.

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.