ARC Resources Ltd. (TSE:ARX) to Issue $0.21 Quarterly Dividend

ARC Resources Ltd. (TSE:ARX) announced a quarterly dividend on Tuesday, March 31st, TickerTech Dividends reports. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.21 per share by the oil and gas exploration company on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, March 31st.

ARC Resources Stock Up 1.5%

Shares of TSE:ARX opened at C$29.39 on Friday. The company has a debt-to-equity ratio of 58.50, a quick ratio of 0.42 and a current ratio of 0.70. The company has a market cap 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 52 week low of C$21.14 and a 52 week high of C$31.56. The firm has a 50 day simple moving average of C$25.89 and a 200 day simple moving average of C$25.48.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. The firm had revenue of C$1.58 billion during the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%. As a group, research analysts expect that ARC Resources will post 2.7255139 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on ARX shares. BMO Capital Markets reduced their price objective on ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Jefferies Financial Group dropped their price target on shares of ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. National Bank Financial downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and cut their price target for the company from C$27.00 to C$26.00 in a report on Friday, February 6th. MKM Partners set a C$34.00 price objective on shares of ARC Resources and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$27.50 to C$25.50 in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ARC Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$29.00.

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.