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

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$29.00.

Several research analysts have commented on ARX shares. Canadian Imperial Bank of Commerce cut shares of ARC Resources from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from C$27.50 to C$25.50 in a report on Monday, February 9th. Royal Bank Of Canada cut their price target on shares of ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Raymond James Financial lowered shares of ARC Resources from a “moderate buy” rating to a “hold” rating and decreased their price objective for the stock from C$31.00 to C$28.00 in a research note on Monday, February 9th. National Bank Financial cut shares of ARC Resources from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from C$27.00 to C$26.00 in a research report on Friday, February 6th. Finally, Roth Mkm raised shares of ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th.

ARC Resources Price Performance

Shares of ARC Resources stock opened at C$29.39 on Monday. ARC Resources has a 12-month low of C$21.14 and a 12-month high of C$31.56. The firm 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. 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’s fifty day moving average is C$25.89 and its 200-day moving average is C$25.48.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. The business 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%. Equities analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current year.

ARC Resources Announces Dividend

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

About ARC Resources

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.