ARC Resources Ltd. (TSE:ARX) Receives C$31.88 Consensus PT from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$31.88.

A number of research analysts have recently commented on ARX shares. BMO Capital Markets upped their price target on ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. Jefferies Financial Group boosted their price objective on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. National Bankshares boosted their price objective on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Finally, Scotiabank boosted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th.

ARC Resources Stock Down 0.9 %

Shares of ARX stock opened at C$25.23 on Wednesday. ARC Resources has a 12 month low of C$19.58 and a 12 month high of C$28.15. The firm has a market cap of C$15.04 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The stock has a 50 day moving average of C$25.91 and a 200-day moving average of C$24.66. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, topping analysts’ consensus estimates of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities analysts predict that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.01%. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio is 35.23%.

Insider Buying and Selling at ARC Resources

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. Company insiders own 0.40% of the company’s stock.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.