Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$29.98

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

ARX has been the topic of a number of recent analyst reports. Scotiabank raised ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. Canadian Imperial Bank of Commerce downgraded ARC Resources from a “neutral” rating to a “tender” rating and upped their price target for the stock from C$29.00 to C$32.00 in a research note on Tuesday, April 28th. ATB Cormark Capital Markets downgraded ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target on the stock. in a research note on Tuesday, April 28th. Canaccord Genuity Group downgraded ARC Resources from a “buy” rating to a “hold” rating and upped their price target for the stock from C$31.00 to C$32.00 in a research note on Tuesday, April 28th. Finally, BMO Capital Markets downgraded ARC Resources from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$30.00 to C$32.00 in a research note on Tuesday, April 28th.

ARC Resources Stock Up 0.7%

Shares of TSE:ARX opened at C$31.09 on Tuesday. The company has a market capitalization of C$17.58 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 0.29 and a beta of -0.27. 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 business’s 50-day moving average is C$28.22 and its 200-day moving average is C$26.15. ARC Resources has a 1 year low of C$21.14 and a 1 year high of C$32.33.

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

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, March 31st. ARC Resources’s dividend payout ratio is 31.62%.

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.