ARC Resources Ltd. (TSE:ARX) Receives C$28.50 Consensus Target Price from Analysts

ARC Resources Ltd. (TSE:ARX) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$28.50.

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce lowered ARC Resources from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$27.50 to C$25.50 in a research note on Monday, February 9th. Scotiabank upgraded ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. Raymond James Financial lowered ARC Resources from a “moderate buy” rating to a “hold” rating and decreased their price target for the company from C$31.00 to C$28.00 in a research note on Monday, February 9th. BMO Capital Markets decreased their price target on ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Finally, National Bank Financial lowered ARC Resources from an “outperform” rating to a “hold” rating and reduced their price target for the company from C$27.00 to C$26.00 in a research report on Friday, February 6th.

ARC Resources Price Performance

ARX stock opened at C$24.83 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.70 and a debt-to-equity ratio of 58.50. 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 cap of C$14.44 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.29 and a beta of -0.30. The company’s 50-day moving average price is C$26.41 and its two-hundred day moving average price is C$25.65.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 EPS for the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. The firm had revenue of C$1.58 billion for the quarter. On average, analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 31st. ARC Resources’s payout ratio is 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.