ARC Resources Ltd. (TSE:ARX) Given Consensus Recommendation of “Buy” by Brokerages

ARC Resources Ltd. (TSE:ARX) has been given a consensus recommendation of “Buy” by the seven brokerages that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$33.13.

Several equities analysts have recently issued reports on the company. National Bankshares decreased their price objective on ARC Resources from C$38.00 to C$33.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Scotiabank reduced their price target on ARC Resources from C$38.00 to C$36.00 in a report on Thursday, October 9th. BMO Capital Markets upped their price target on ARC Resources from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. CIBC reduced their price target on ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Finally, Raymond James Financial reduced their price target on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a report on Monday, September 15th.

ARC Resources Stock Performance

Shares of ARX stock opened at C$25.41 on Friday. The stock has a market cap of C$14.78 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.29 and a beta of 0.13. The business has a 50-day simple moving average of C$25.68 and a 200-day simple moving average of C$27.15. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a 52-week low of C$22.50 and a 52-week high of C$31.56.

ARC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.0%. ARC Resources’s payout ratio is 29.25%.

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.