ARC Resources Ltd. (TSE:ARX) Receives Average Rating of “Buy” from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have earned an average recommendation of “Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$30.68.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on ARC Resources from C$28.00 to C$30.00 in a research report on Friday, May 10th. Cormark lifted their price objective on shares of ARC Resources from C$32.00 to C$35.00 in a report on Friday, May 10th. Scotiabank upped their target price on shares of ARC Resources from C$33.00 to C$34.00 in a report on Friday, July 12th. CIBC lifted their price target on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Finally, Canaccord Genuity Group boosted their price objective on ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd.

Insider Transactions at ARC Resources

In related news, Senior Officer Armin Jahangiri sold 24,343 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. Company insiders own 0.40% of the company’s stock.

ARC Resources Trading Up 0.4 %

TSE:ARX opened at C$25.04 on Friday. The firm has a fifty day simple moving average of C$24.29 and a two-hundred day simple moving average of C$24.37. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The stock has a market capitalization of C$14.94 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.29 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The business had revenue of C$1.15 billion during the quarter, compared to analyst estimates of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. Analysts expect that ARC Resources will post 1.8623988 EPS for the current fiscal year.

ARC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, June 28th. ARC Resources’s dividend payout ratio is presently 35.23%.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.