ARC Resources Ltd. (TSE:ARX) Receives C$29.98 Consensus PT from Analysts

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$29.98.

A number of equities research analysts have commented on the company. Canaccord Genuity Group lowered ARC Resources from a “buy” rating to a “hold” rating and upped their price target for the company from C$31.00 to C$32.00 in a research report on Tuesday, April 28th. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target on the stock. in a research report on Tuesday, April 28th. Jefferies Financial Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Capital One Financial downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, BMO Capital Markets downgraded ARC Resources from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$30.00 to C$32.00 in a research note on Tuesday, April 28th.

ARC Resources Trading Up 0.7%

TSE ARX opened at C$31.92 on Friday. The business’s 50-day moving average price is C$29.47 and its two-hundred day moving average price is C$26.97. ARC Resources has a 12 month low of C$21.14 and a 12 month high of C$32.40. The firm has a market capitalization of C$18.05 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 43.61.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.The firm had revenue of C$2.10 billion for the quarter. On average, analysts expect that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, March 31st. ARC Resources’s payout ratio is currently 31.62%.

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.