Brokerages Set ARC Resources Ltd. (TSE:ARX) Target Price at C$29.00

ARC Resources Ltd. (TSE:ARX) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$29.00.

A number of brokerages recently issued reports on ARX. MKM Partners set a C$34.00 price objective on shares of ARC Resources and gave the stock a “buy” rating in a report on Friday, December 19th. Scotiabank cut their target price on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. National Bank Financial cut ARC Resources from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$27.00 to C$26.00 in a research report on Friday, February 6th. Jefferies Financial Group decreased their price target on ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial lowered ARC Resources from a “moderate buy” rating to a “hold” rating and lowered their price objective for the company from C$31.00 to C$28.00 in a report on Monday, February 9th.

ARC Resources Price Performance

TSE ARX opened at C$29.39 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.70 and a debt-to-equity ratio of 58.50. The stock has a market capitalization of C$17.09 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.29 and a beta of -0.06. ARC Resources has a 12-month low of C$21.14 and a 12-month high of C$31.56. The company has a 50 day moving average price of C$25.89 and a two-hundred day moving average price of C$25.47.

ARC Resources (TSE:ARX) last announced its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS 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%. As a group, equities analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. ARC Resources’s dividend payout ratio is presently 35.62%.

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.