ARC Resources (TSE:ARX) Sets New 12-Month High – Still a Buy?

ARC Resources Ltd. (TSE:ARX) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$32.54 and last traded at C$32.44, with a volume of 469288 shares trading hands. The stock had previously closed at C$31.92.

Wall Street Analysts Forecast Growth

ARX has been the subject of several recent analyst reports. ATB Cormark Capital Markets cut ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target for the company. in a research note on Tuesday, April 28th. Scotiabank raised ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. Capital One Financial downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. TD Securities lowered ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. Finally, Raymond James Financial upped their target price on shares of ARC Resources from C$29.00 to C$32.80 in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARC Resources presently has a consensus rating of “Hold” and an average price target of C$29.98.

ARC Resources Stock Down 0.2%

The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61. The company has a fifty day simple moving average of C$29.62 and a 200-day simple moving average of C$27.05. The firm has a market cap of C$17.96 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. The firm 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%. On average, equities analysts anticipate that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

ARC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.6%. ARC Resources’s dividend payout ratio (DPR) is presently 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.