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

ARC Resources Ltd. (TSE:ARX) has been given a consensus rating of “Buy” by the eight analysts that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$33.33.

Several research firms have recently commented on ARX. Raymond James Financial decreased their price target on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. BMO Capital Markets increased their price objective on shares of ARC Resources from C$32.00 to C$33.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd.

ARC Resources Price Performance

ARX opened at C$26.43 on Monday. ARC Resources has a one year low of C$22.50 and a one year high of C$31.56. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The company’s 50 day simple moving average is C$26.21 and its 200-day simple moving average is C$27.31. The stock has a market capitalization of C$15.37 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.29 and a beta of 0.13.

ARC Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.9%. ARC Resources’s dividend payout ratio is currently 29.25%.

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.